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JAT in Rs. 800 m deal to acquire New Zealand's Mirotone
Daily FT
|November 04, 2025
JAT Holdings PLC yesterday announced the acquisition of Mirotone (NZ) Ltd., the market leader in industrial wood coatings across New Zealand and a globally respected coatings brand established in 1935.
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The total transaction, comprising the purchase consideration and committed reinvestment for growth, represents a strategic investment exceeding 4 million Australian dollars (about Rs. 800.7 million).
This includes an acquisition value of 2.5 million Australian dollars for 100% ownership of Mirotone (NZ) Ltd. and an additional 1.5 million Australian dollars for working capital infusion, modernisation of manufacturing operations in New Zealand, and the re-launch of Mirotone's legacy brand in the Australian market.
The acquisition of Mirotone gives JAT not only a powerful brand but also a passport to the world, with immediate reach across Australia and future access to markets in Europe and the Americas.
This story is from the November 04, 2025 edition of Daily FT.
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