Synlait Milk Limited Ordinary Shares
SML.NZXConsumer Staples
About Synlait At Synlait we combine expert and sustainable farming practices with state-of-the-art manufacturing processes to produce a range of nutritional milk products that provide genuine benefits for human health and wellbeing. Our purpose Doing Milk Differently For A Healthier World is driven by being different, essential nutrition and sustainability. Our disruptive, innovative spirit combined with resolute determination to do the right thing for planet and people sets us apart from the competition. Founded in 2000, Synlait is based in Dunsandel, Canterbury and employs more than 1,000 people. Synlait listed on the NZX in July 2013. This was followed by a compliance listing on the ASX in November 2016. In 2019, Synlait joined the NZX Debt Market, issuing NZ$180 million of unsecured, subordinated, fixed rate bonds. Our locations Today we have eight sites based across seven locations in New Zealand and China: Auckland: blending and canning facility Pokeno: second infant-capable manufacturing facility Palmerston North: research and development centre at Massey University Christchurch: administration office and Dairyworks Dunsandel: fully integrated manufacturing facility and administration office Temuka: Talbot Forest Cheese manufacturing Shanghai: sales office Our products We produce a range of added-value milk powders and nutritional products, such as retail-ready infant formula. Our customers are leading global health and nutrition companies, with established brands and strong retail distribution channels. In early April 2019 we began manufacturing fresh milk and cream in our newly commissioned Advanced Liquid Dairy Packaging Facility at Dunsandel. As part of our Everyday Dairy growth strategy, Talbot Forest Cheese joined the Synlait family in August 2019, followed by Dairyworks in April 2020. Talbot Forest Cheese (a speciality cheese manufacturer and distributor) is based at Temuka in South Canterbury and Dairyworks (supply iconic and much-loved New Zealand brands to the consumer and foodservice markets) in Christchurch. Our farmer suppliers Synlait has a network of nearly 300 farmer suppliers in two of New Zealand?s major dairy farming regions; Canterbury and Waikato. Our Synlait journey begins on farm with top quality milk and continues throughout its manufacturing and supply chain process to its customers, and then onto their consumers. As a key part of that journey, Synlait is proud of its certified best-practice dairy farming programme, Lead With Pride(TM) which supports its farmer suppliers to achieve farming excellence. For more information about Synlait, visit: www.synlait.com
Market Data
$0.445
+0.0%$268.4M
-2.1x
$-0.208
0.00%
-0.4%
Recent Announcements
Synlait appoints new Director
Synlait Milk Limited has appointed Katherine Turner as an Independent Director, bringing 25+ years of executive experience in manufacturing, FMCG, and dairy sectors from roles at Fonterra, Sanford, Danone, and TOMRA Food. Turner has also been appointed Chair of the Audit & Risk Committee, with the company updating its sub-committee memberships accordingly.
Synlait CEO resignation
Synlait Milk Limited has accepted CEO Richard Wyeth's resignation, effective 30 June 2026, with Leon Fung appointed as Acting CEO from 14 May 2026. Wyeth will remain until end of June to support transition.
Resignation of Synlait Director
Paul McGilvary has resigned as an Independent Director of Synlait Milk Limited effective 18 May 2026, after serving since 2022 in various leadership roles including Acting Board Chair. The company's Nominations Sub Committee is searching for a replacement Independent Director to maintain the two Independent Directors required under NZX Listing Rules.
Synlait banking facilities update
Synlait Milk Limited has received two waivers from its banking syndicate for its quarterly minimum EBITDA threshold and interest cover ratio for the period ending 30 April 2026, citing external headwinds impacting financial performance.
Synlait assisting The a2 Milk Company with USA recall
Synlait Milk Limited is assisting The a2 Milk Company with a voluntary recall of three batches of a2 Platinum USA infant milk formula due to detected cereulide; Synlait manufactured the affected product in compliance with standards and states the recall is not expected to impact its financial results.
Executive Leadership Team resignation
Synlait Milk Limited announces the resignation of Chief Quality Officer Hila Mory, effective 31 July 2026. CEO Richard Wyeth acknowledged Mory's significant contributions to improving Synlait's quality performance, quality strategy, and compliance operating model during her tenure.
Additional information following Bright Dairy announcement
Synlait Milk Limited provides additional context following Bright Dairy's Q1 FY26 report, clarifying that the majority of Synlait's losses impacting Bright Dairy's profit reduction occurred in January 2026 (previously reported in Synlait's half-year results), with smaller losses in February and March 2026. Synlait reiterates it will not provide FY26 financial guidance and will continue to comply with continuous disclosure obligations.
Synlait responds to The a2 Milk Company announcement
Synlait Milk Limited responded to The a2 Milk Company's announcement regarding their infant formula business in China, confirming that enhanced testing implemented in early 2026 has extended product release times and impacted working capital, while noting production has returned to targeted levels and the company continues to rebuild customer inventory following previous manufacturing challenges.
Executive Leadership Team resignation
Robert Stowell, Chief Supply Chain & Technology Officer at Synlait Milk Limited, has resigned effective July 2026 to pursue a new opportunity. Stowell was one of Synlait's first employees and held multiple executive roles including CFO and Chief Commercial Officer during his tenure.
North Island asset sale completed
Synlait Milk Limited has completed the sale of its North Island assets (Pōkeno manufacturing facility and Auckland sites) to Abbott for NZ$307 million, with gross proceeds of approximately NZ$283.1 million to be used primarily to repay NZ$200 million of bank debt and reduce total committed facilities from NZ$400 million to NZ$200 million.
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