Ailing clothing retailer Postie Plus has been sold for an undisclosed sum as a going concern to Roan Ltd, a subsidiary of Pepkor, a South African-based investment group with clothing and footwear retail interests in Australia and Eastern Europe. News of the deal began to leak after staff received letters on Roan letterhead. Some 530 of the Auckland-based company’s 560 staff have …

New Zealand’s global innovation ranking has slipped from 17th to 18th, while Australia has jumped three places to 17th in rankings calculated for the 2014 Global Innovation Index, compiled by Cornell University. While New Zealand scores highly in areas such as political stability (3rd), investor protection (1st), effective government (9th) and regulatory quality (4th), the overall ranking is pulled down …

Wellington property investor Caniwi Capital has bought and leased back seven of  nine New Zealand properties housing Inghams Enterprises chicken farming operations in a $57 million deal that releases capital for Texas Pacific Group, the US private equity firm that paid A$880 million for the Australasian Inghams operation in March last year. The transaction represents the New Zealand leg of TPG’s …