Skellerup buys NZ's Talbot for $10m

Skellerup has bought Christchurch-based Talbot for $10m. Photo / Supplied

Skellerup, the world's second largest manufacturer of food-grade dairy rubberware, said it had the bought business and assets of Christchurch-based Talbot Technologies for $10 million.

The acquisition would be immediately earnings accretive to the Skellerup Group, it said.

Talbot designs, develops and makes engineered plastic products.

"The acquisition is a natural fit for Skellerup, as it complements our focus and capability on designing highly technical products for international original equipment manufacturer companies," Skellerup chief executive David Mair said.

Talbot has a leading market position supplying engineered plastic products for leading domestic and international companies specialising in health, technology and electronics applications, Mair said.

The transaction is due to close on August 31.

Skellerup yesterday reported a record $40.2m net profit in the June year, up 38 per cent over the previous year, driven mostly by a strong showing from its industrial division.

Revenue came to $279.5m, up 11 per cent on the prior comparative period.

Earnings before interest and tax was $56.4m, up 33 per cent.