My Food Bag Group Limited (MFB) has completed a six-month strategic review and will remain listed on the NZX. The review considered ownership and strategic options, including a potential sale. The board concluded that a standalone growth strategy would best deliver shareholder returns.
The market testing process included discussions with several potential investors in New Zealand and overseas, but no transaction resulted.
The company’s strategy has four priorities: grow its core brands; expand into new sales channels, including the My Food Bag Shop; improve margins through operational efficiencies; and allocate capital with discipline. The board said acquisitions are not necessary to deliver the strategy.
MFB will target a dividend payout ratio of 70% to 90% of annual net profit after tax. It is also considering returning surplus cash to shareholders in the next year.