AUCKLAND, 7 August 2026: NZME Limited (NZX and ASX: NZME) (NZME) today announced it has finalised an agreement to acquire the print plant equipment at Stuff's current Petone facility, in a move that further extends and enhances the profitability of NZME's ongoing print operations.
Under the agreement, NZME will take ownership of Stuff’s Petone plant equipment and begin removing it from the site later this year. The total investment, including relocation, installation and commissioning, is expected to be up to $15 million over the next two years, with cashflow payback within the following three years. The Petone equipment is about a third of the size of NZME's current plant and runs more efficiently, meaning the acquisition is expected to deliver annual operating savings of around $7 million, subject to print volumes, once installed. In addition, this provides the capability for NZME to provide further third-party print options throughout the North Island.
Michael Boggs, NZME Chief Executive Officer, says the acquisition will help right size NZME’s production capacity, ensuring its future sustainability.
"Print remains an important part of how many New Zealanders consume news and connect with their communities. We're investing in the capability to continue delivering that for years to come, alongside our growing digital platforms."
NZME's current lease at Ellerslie enables printing operations through to the end of 2028, with the Petone equipment to be installed at a new facility in a managed transition that ensures continuity of service for NZME’s print customers.
Matt Wilson, NZME Chief Publishing Officer, says: "The Petone plant equipment is more modern, well maintained and right-sized for our current and future requirements. Acquiring it gives us the opportunity to improve productivity, reduce wastage further, and establish a printing platform that matches our business. We're pleased to have been able to move quickly to secure this asset.
“NZME has a strong record of reliability and award-winning print quality, which is a reflection of the capability of our team. We're committed to carrying that same standard of excellence into our new facility with a seamless transition."
NZME expects to provide further detail at its Half Year Results later this month.
ENDS
Authorised by: Michael Boggs, NZME Chief Executive Officer