Speirs quits Rosa

Speirs Group, the fresh food processing business founded by the Speirs family, has sold its 40 per cent stake in Rosa Foods at a “modest premium” to its $714,000 carrying value, saying there were limited synergy benefits with its other operations. Marton-based Speirs bought its stake in Rosa in April 2008 for $500,000 and flagged in its last annual report that it would consider a partial or full divestment of its stake if that provided a better outcome for shareholders. Rosa Foods started with a cafe in Khandallah, Wellington.