Sold to Blue Star's owner: Geon's labels business in Christchurch
The Geon sell off has got underway with the labels business the first cab off the rank, the receivers have sold it to Blue Star NZ chairman Tom Sturgess.
This combined with the closure of Geon’s Queensland business (see separate story) means that the sale of Geon as a single entity will not happen.
Last year Sturgess bought the Rapid Labels business from Blue Star - a company he went on to buy in January – through his Tiri Group.
The receiver is working feverishly to sell the remaining business units, which include its supersites in Banksmeadow and Auckland, as well as its Mt Waverly, Parramatta, Perth Canberra and Hobart facilities.
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