1 Dec 2014

Business briefs

1:58 pm on 1 December 2014

Shares in a new addition to the NZX's alternative board, Enprise Group, debuted at 60 cents this morning, valuing the company at $3.7 million.

However, the shares quickly fell to 32 cents, near halving its value.

Enprise is a group of three software businesses that build and provide integrated accounting and data management solutions to small and medium-sized enterprises in Australasia and the global market.

Nuplex sells Specialties and Masterbatch

Nuplex Industries said it had completed the sale of its Australian and New Zealand-based Specialties and Masterbatch firms.

Nuplex announced in October that it had entered into an agreement to sell the businesses to Axieo for $A127.5 million.

It said the proceeds will be used to pay down debt.

Last month, Nuplex said the sale of the non-resin businesses freed the company to pursue new opportunities.

Veritas buys Better Bar Group

The food and beverage investor, Veritas Investments, said it had completed the purchase of the Better Bar Group.

Veritas owns the Mad Butcher and Nosh Food Market, and also has a 50 percent stake in Kiwi Pacific Foods.

It said the acquisition was expected to increase its annual revenue to $90 million per year.

The latest purchase is Veritas' fourth acquisition in 18 months.