Bremworth Limited Ordinary Shares
BRW.NZXConsumer Discretionary
Overview Synonymous with quality, Bremworth has been voted New Zealand’s most trusted carpet brand* for the last eight years. With manufacturing facilities in Napier, Whanganui and Auckland, Bremworth employs over 400 people and is committed to sourcing its wool from New Zealand growers. In 2020 the company began to implement its new purpose-led strategic plan when it announced it was exiting synthetic carpet production to focus on redefining Bremworth as a premium design and natural fibre company. Progressive new initiatives are plotting a fresh course for Bremworth’s future. The team at Bremworth invite you to join them to find a more sustainable way. Key Milestones : November 2020 – Re-launched the Bremworth brand December 2020 - Secured funding to execute the strategic plan, Right-sized the organisation April 2021 - Secured a $1.9 million grant from MPI’s Sustainable Food and Fibre Futures (SFFF) fund to support Bremworth’s $4.9 million sustainability programme May 2021 - Celebrated last ever synthetic carpet production June 2021 - Commenced “Let’s Go Good Together” marketing strategy, Signed up to New Zealand Farm Assurance programme, Appointed new CEO Greg Smith Markets: The company is mainly focused on the Australasian woollen carpet and rug markets, but also exports carpet to the USA and Canada where it has identified opportunities in the premium end woollen segments of these markets. Our growth strategy To grow the wool flooring market To grow our share of the market To expand our presence To focus on design-led innovation
Market Data
$0.730
-0.0%$50.4M
2.6x
$0.283
0.00%
+0.2%
Recent Announcements
SPH Notice - David, Henry and Mangawhai Collective
David, Henry and Mangawhai Collective changed substantial holding from 19.071% to 19.734%.
Scheme of Arrangement - No Extension
Bremworth Limited's proposed Scheme of Arrangement with Floorscape Limited will lapse after a shareholder group representing approximately 38% of shares (including David Ferrier and the Timpson, Harrison, and Woolf families) committed to vote against it, prompting the Board to cease extension discussions. The Board expressed frustration that the opposing shareholders announced their position after regulatory approval but before shareholders could review the Independent Adviser's Report, and noted no alternative acquisition offer has been presented.
Scheme of Arrangement – Further Statement of Intention
Bremworth Limited has received notice from Terry Harrison (trustee of TR Harrison Securities Trust), representing approximately 2.4% shareholding, indicating intention to vote against the proposed scheme of arrangement with Floorscape. The Board is considering next steps and will provide further updates to shareholders.
Scheme of Arrangement – Largest Shareholder Intention
David Ferrier and associated shareholders, collectively holding 19.413% of Bremworth Limited, have notified the board that they intend to vote against the proposed scheme of arrangement with Floorscape, citing concerns about long-term industry interests and the financial drain from scheme-related delays. The Ferrier group's opposition makes it unlikely the scheme will achieve the required shareholder voting threshold.
Scheme of Arrangement - Commerce Commission Clearance
Bremworth Limited has received New Zealand Commerce Commission clearance for Floorscape Limited to acquire all Bremworth shares under a scheme of arrangement announced in October 2025. The Board is negotiating with Floorscape to extend the scheme implementation agreement deadline beyond 7 August 2026 to complete the acquisition.
Scheme of Arrangement Update
Bremworth Limited reiterates its confidence in the proposed Scheme of Arrangement with Floorscape Limited (backed by Mohawk Industries) to acquire all Bremworth shares, which remains subject to New Zealand Commerce Commission clearance and shareholder approval. The Board stated that if the NZCC declines clearance, it will assess alternative strategic options to deliver maximum shareholder value.
Scheme of Arrangement Update - NZ Commerce Commission
Bremworth Limited announced that the New Zealand Commerce Commission has extended its decision date for clearance of Bremworth's scheme of arrangement with Floorscape to 30 June 2026, creating timing pressure as the scheme's end date is 7 August 2026; Bremworth's board will seek to extend the scheme implementation agreement with Floorscape to allow implementation following NZCC clearance.
SPH Notice - David, Henry & Mangawhai Collective
David, Henry & Mangawhai Collective changed substantial holding from 17.543% to 19.071%.
Scheme of Arrangement Update-Extension of Scheme Agreement
Bremworth Limited and Floorscape Limited have extended the end date of their scheme implementation agreement from 1 July 2026 to 7 August 2026, following the New Zealand Commerce Commission's extension of its decision date to 29 May 2026. If NZCC clearance is granted on 29 May 2026, the Scheme is expected to be implemented on 6 August 2026, subject to shareholder approval and other conditions.
SPH Notice - David Ferrier, Henry Lawford Lonsdale Ferrier
David Ferrier, Henry Lawford Lonsdale Ferrier changed substantial holding from 16.323% to 17.543%.
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