Announcement • Apr 29
United Industries Limited agreed to acquire Fletcher Reinforcing and Wire business from Fletcher Building Limited (NZSE:FBU) for AUD 15.7 million. United Industries Limited agreed to acquire Fletcher Reinforcing and Wire business from Fletcher Building Limited (NZSE:FBU) for AUD 15.7 million on April 28, 2026. A cash consideration of AUD 15.7 million will be paid by United Industries Limited. As part of consideration, AUD 15.7 million is paid towards assets of Fletcher Reinforcing and Wire business.
The transaction is subject to subject to antitrust regulations and third party approval needed. The expected completion of the transaction is April 28, 2026 to December 31, 2026. The Group expects to recognise a loss on sale of between ~$20 million and ~$23 million upon completion of the transaction. Announcement • Jan 21
VINCI Construction entered into a binding agreement to acquire The Fletcher Construction Company Limited from Fletcher Building Limited (NZSE:FBU) for an enterprise value of approximately NZD 330 million. VINCI Construction entered into a binding agreement to acquire The Fletcher Construction Company Limited from Fletcher Building Limited (NZSE:FBU) for an enterprise value of approximately NZD 330 million on January 20, 2026. The purchase price of NZD 315. 6 million is paid and it is subject to a potential increase of up to NZD 18.5 million in aggregate pending the final outcome of a small number of key contracts for the Division currently under negotiation. The purchase price is subject to typical adjustments for working capital and net debt.
For the period ending December 31, 2025, The Fletcher Construction Company Limited reported total revenue of NZD 1.3 billion.
Completion of the transaction is subject to regulatory approvals, including from the New Zealand Overseas Investment Office and the New Zealand Commerce Commission, receiving counterparty consent under certain key contracts and completion of the restructuring out of the Construction Division of the South Pacific operations. It is expected that these conditions will be satisfied by Q1 FY27 and for completion to therefore occur before the end of calendar 2026. Completion is also subject to there being no material adverse change relating to damage to, or destruction of, the Division’s key physical assets prior to completion.
Cameron Partners Ltd, Rothschild & Co SCA acted as financial advisors to VINCI Construction in the transaction. Announcement • Dec 12
Fletcher Building Limited to Report First Half, 2026 Results on Feb 18, 2026 Fletcher Building Limited announced that they will report first half, 2026 results on Feb 18, 2026 Announcement • Nov 21
Fletcher Building Reportedly Looks to Sell Off Residential Business Fletcher Building Limited (NZSE:FBU) reportedly has sent out sale documents to prospective buyers for a sale of its residential development business, say sources. Working on the sale is investment bank Jarden and first-round offers are due before Christmas. Parties approached are likely to be similar groups that considered a purchase of the Lendlease residential communities business, sold to Stockland in 2024 for about $1 billion. Groups such as Singapore sovereign wealth fund GIC, Thai investor Supalai, Japan's Daiwa House, Lendlease, Blackstone and Invesco have likely been sent an information memorandum. Fletcher Building had previously confirmed a strategic review of its residential and development unit was underway, as it also reviewed sale options for its construction arm. Earlier, sources believed a capital partnership or joint venture for its development land could net Fletcher Building about $500 million. While Fletcher Building primarily operates in the building materials market in Australia, selling products such as Laminex surfaces, Iplex piping systems and Stramit roofing, in New Zealand it operates as a residential developer as well as a building supplies company. The move to place the business on the market comes with calls by investors and analysts by Fletchers to simplify the business after it swung to a NZD 419 million ($364 million) loss for the 2025 financial year. Analysts had earlier valued its New Zealand development land bank at about NZD 1 billion. A sale would further reduce the group's NZD 999 million of net debt, which was down from NZD 1.77 billion in June 2024, after the group carried out an emergency $642 million equity raising late last year. Announcement • Aug 21
Fletcher Building Limited, Annual General Meeting, Oct 22, 2025 Fletcher Building Limited, Annual General Meeting, Oct 22, 2025. Announcement • Jul 25
Fletcher Building Limited Reportedly Hires Investment Bank Jefferies to Sell Its Construction Unit Fletcher Building Limited (NZSE:FBU) has hired investment bank Jefferies to sell its construction unit, say sources. It comes after Fletcher told the market on July 21, 2025 after inbound interest and the completion of a strategic review, the company has started exploring potential sale options in relation to its construction division and its Higgins, Brian Perry Civil and Fletcher Construction Major Projects business units. It also flagged it had appointed financial advisers. Managing director Andrew Reding said no decision had been made to sell and the company would carefully consider the value of any options presented from the process before deciding whether to move ahead. DataRoom reported at the start of the month Fletcher had fielded an offer for construction assets from $10.5 billion Malaysia-listed company Gamuda, one of the largest engineering firms operating in the infrastructure sector in its home country. It comes as Jefferies also works on the sale of RetireAustralia, half-owned by New Zealand-listed infrastructure investor Infratil. US-based Investco has expressed interest, but was understood to have put forward an offer that was underwhelming. Jefferies has also explored expanding its advisory operations across the Tasman before determining it had other priorities elsewhere. Market sources say the New Zealand construction industry had been left wide open for new international players to enter, with Fletcher retreating from some work. The New Zealand government is also urging international industry participants into the market to provide additional competition and expertise ahead of a planned multibillion-dollar infrastructure spending pipeline. Fletcher Building has been selling assets after its former chairman and CEO departed following a worse-than-expected loss, and project writedowns and asset impairments that were larger than expected. Miles Advisory was hired to sell its plumbing supplies business Tradelink, which was purchased by Metal Manufacturers for $170 million last year. Jarden has worked with the overall group, advising on its equity raising last year. Announcement • Jul 02
Gamuda Berhad Expresses Interest in Buying the Fletcher Building Construction Arm Another party has surfaced as a suitor of Fletcher Building Limited's (NZSE:FBU) construction unit, according to sources, with suggestions that a group out of Malaysia has made an -approach. DataRoom understands that Malaysia's Gamuda Berhad (KLSE:GAMUDA) has expressed an interest in buying the Fletcher Building construction arm. It has worked on major and highly complex projects and operates in Australia, Singapore, Vietnam, Taiwan, India, Bahrain and Qatar, as well as its home country. Market sources say the New Zealand construction industry had been left wide open for new international players to enter, with Fletcher's retreating from some work. The New Zealand government was also urging international industry participants into the market to provide additional competition and their expertise ahead of a planned multibillion-dollar infrastructure spending pipeline. Fletcher Building held its investor day on June 24 but offered limited insight on any potential asset sales, as it works to cut costs and streamlines divisions. Some came away with the impression that the group may exit real estate development and divest its NZD 1 billion ($928 million) land bank after emphasising that its focus in the future would be on building products and building materials, where it dominates in the New Zealand market. Some believe that one part of the business that could be of particular interest to suitors in its construction unit is parts of its civil engineering business, including road construction and maintenance unit Higgins that it purchased in 2016 for NZD 315 million. Since then, it has sold the Higgins Fiji operations, reaping about NZD 40 million in proceeds. Announcement • Jun 13
Fletcher Building Limited to Report Fiscal Year 2025 Results on Aug 20, 2025 Fletcher Building Limited announced that they will report fiscal year 2025 results Pre-Market on Aug 20, 2025 Announcement • Jun 06
Skycity Entertainment Group Limited to File Nzicc Legal Proceedings Against Fletcher Building Limited and the Fletcher Construction Company Limited SkyCity Entertainment Group Limited (SkyCity) has provided notice that it is to file legal proceedings against Fletcher Building Limited and The Fletcher Construction Company Limited (together, Fletchers). The claim seeks damages for losses incurred by SkyCity arising from ongoing delays in the completion of the project, including as a result of the 2019 fire at the New Zealand International Convention Centre (NZICC). The delivery of the NZICC by Fletchers is now nearly six and a half years behind the contractually agreed delivery date of January 2019. SkyCity's claim alleges that Fletchers' breaches of contract, including those which caused the fire, constituted gross negligence, and/or a persistent, flagrant or wilful neglect to carry out obligations under the building works contract. SkyCity claims that it is entitled under the contract to liquidated damages of over $330 million from Fletchers. SkyCity has attempted to resolve these claims by agreement with Fletchers but has been unable to do so. SkyCity will keep the market informed on this matter in accordance with its continuous disclosure obligations. Announcement • Feb 03
Fletcher Building Limited and Fletcher Building Industries Limited Announces Board Changes Fletcher Building Limited announced the appointments by the Board of Peter Crowley as Chair and Jacqui Coombes as an independent, non-executive director, to complete the Company's Board renewal process. Corresponding appointments will also be made to the Board of Fletcher Building Industries Limited. Peter Crowley's appointment takes effect immediately, while Jacqui Coombes will officially join the Board on 14 April 2025. As previously advised, Acting Chair Barbara Chapman will step down from the Board given the completion of the Board renewal process. Barbara will remain on the Board as a Director until 30 April 2025 to facilitate an effective handover to Peter as he assumes the Chair role. Peter has been a director of Fletcher Building since 2019. He is currently a member of the Audit and Risk Committee, the Nominations Committee, the People and Remuneration Committee and the Safety, Health, Environment and Sustainability Committee (although these are being reviewed following his appointment as Chair). Peter has more than 40 years of experience in the construction materials and building products industries across Australia, New Zealand, Asia, Europe and North America. From 2003 to 2015, he served as managing director and CEO of GWA Group Limited, a leading Australian supplier of building fixtures and fittings to households and commercial premises. Prior to that, Peter spent 18 years in the cement and construction materials industry. During this time, he served as a chief executive and main board director of the Rugby Group plc with responsibility for the Group's cement and construction materials businesses. Before joining Rugby Group, Peter held senior executive roles with Holcim in Australia and Southeast Asia. Peter is a director of The Riverside Coal Transport Company Pty Limited and Barrambin Trading Company Pty Limited. Jacqui is an accomplished leader in the building industry retail sector with a strong commercial, customer and operational focus. Jacqui's management career includes several senior leadership roles with Bunnings which employs over 52,000 team members across more than 500 locations throughout New Zealand and Australia, including, most recently, as Director for Group Human Resources and New Zealand. Prior to that, Jacqui led Bunnings' New Zealand for 10 years, across 53 locations with more than 4,000 team members. Jacqui was also an Executive Director of Bunnings Group from 2017 - 2021 and Bunnings NZ from 2011 - 2021. Prior to joining Bunnings, Jacqui was General Manager Operations for Spotlight Stores with overall responsibility for New Zealand, and for Retail operations in Australia, Singapore and Hong Kong. Her other senior executive roles have been with a range of large New Zealand and international businesses including Noel Leeming, Bond and Bond, PixiFoto, Woolworths, Aldi and Texaco. Jacqui is a non-executive director of ASX-listed Guzman Y Gomez Limited, which operates over 220 restaurants in Australia, Singapore, Japan and the United States. Announcement • Dec 26
Fletcher Building Limited Appoints James Miller as an Independent Non-Executive Director Fletcher Building Limited announced the appointment of James Miller as an independent non-executive director. James will also be appointed to the Board of Fletcher Building Industries Limited. James intends to join the Boards as soon as practicable following the appropriate adjustments to his existing board commitments. James brings a wealth of experience, gained across a range of senior management and governance roles. With a strong track record in capital management, financial analytics and financial markets, he is well-versed in navigating complex challenges and identifying opportunities to drive growth and create shareholder value. In addition, his extensive expertise in Audit and Risk further strengthens company governance capabilities. James is currently chair of Channel Infrastructure NZ and a director of Ryman Healthcare, Mercury NZ and Vista Group. His previous governance roles include serving on the boards of Auckland International Airport, Accident Compensation Corporation, NZX and Vector and as a member of the Financial Accounting Standards Board and the Financial Markets Authority board. James previously held leadership executive positions at Craigs Investment Partners and ABN AMRO. James is a Distinguished Fellow of INFINZ, a Fellow of Chartered Accountants Australia and New Zealand and a Fellow of the Institute of Directors. He is a certified securities analyst professional, holds a Bachelor of Commerce from Otago University and is a graduate of the Harvard Business School Advanced Management Program. Announcement • Dec 13
Fletcher Building Limited to Report First Half, 2025 Results on Feb 19, 2025 Fletcher Building Limited announced that they will report first half, 2025 results on Feb 19, 2025 Announcement • Oct 23
Fletcher Building Limited Provides Earnings Guidance for the Fiscal Year 2025 Fletcher Building Limited provided earnings guidance for the fiscal year 2025. For the year, the company expected EBIT before significant items to be c.60% weighted to the second half mainly. Announcement • Oct 18
Fletcher Building Ltd Announces the Resignation of Claire Carroll as Chief People and Communications Officer Fletcher Building Ltd. announced that Chief People and Communications Officer, Claire Carroll has given notice of her resignation, and a process is underway for her replacement. Announcement • Oct 16
Fletcher Building Limited has completed a Follow-on Equity Offering in the amount of NZD 531.553369 million. Fletcher Building Limited has completed a Follow-on Equity Offering in the amount of NZD 531.553369 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 47,083,333
Price\Range: NZD 2.4
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 174,397,237
Price\Range: NZD 2.4
Transaction Features: Rights Offering Announcement • Oct 01
Metal Manufactures Pty Limited completed the acquisition of Tradelink Pty Limited from Fletcher Building Limited (NZSE:FBU). Metal Manufactures Pty Limited entered into an agreement to acquire Tradelink Pty Limited from Fletcher Building Limited (NZSE:FBU) for AUD 170 million on August 12, 2024. As part of the agreement, Metal Manufactures will acquire 100% shares in Tradelink. The sale price of AUD 170 million is on a cash and debt-free basis. The consideration consists of AUD 160 million in cash and AUD 10 million in the form of earnout payment. The cash consideration will be settled on September 30, 2024. The proceeds from the sale will be used to pay down debt. There are no regulatory or other conditions to be satisfied to complete the transaction. The transaction is expected to take up to two years and be completed by September 2026. Miles Advisory Partners Pty Ltd. acted as financial advisor to Fletcher Building Limited.
Metal Manufactures Pty Limited completed the acquisition of Tradelink Pty Limited from Fletcher Building Limited (NZSE:FBU) on September 30, 2024. Announcement • Sep 27
Fletcher Building Limited has completed a Follow-on Equity Offering in the amount of AUD 281.895694 million. Fletcher Building Limited has completed a Follow-on Equity Offering in the amount of AUD 281.895694 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 117,456,539
Price\Range: AUD 2.4
Transaction Features: Subsequent Direct Listing Announcement • Sep 12
Fletcher Building Limited Appoints Thornton Williams as Permanent Chief Executive of Fletcher Building's Concrete Division Fletcher Building Limited announced the appointment of Thornton Williams as permanent Chief Executive of Fletcher Building's Concrete Division with immediate effect. Mr. Williams joined Fletcher Building in October 2011, working across various Group functions including Treasury, Insurance and Risk, before moving into the Concrete, Chief Financial Officer role in 2021. He was appointed Acting Chief Executive of Fletcher Building's Concrete division on 29 March 2024. While in his Concrete CFO role, Mr. Williams had a significant leadership role in the advancement of the Concrete Division's performance and was heavily involved in initiatives that drove culture, customer satisfaction and sustainability. Before joining Fletcher Building, Mr. Williams held senior banking and finance roles in New Zealand and overseas. Announcement • Aug 26
Fletcher Building Limited, Annual General Meeting, Oct 23, 2024 Fletcher Building Limited, Annual General Meeting, Oct 23, 2024. Announcement • Aug 12
Metal Manufactures Pty Limited entered into an agreement to acquire Tradelink Pty Limited from Fletcher Building Limited (NZSE:FBU) for AUD 170 million. Metal Manufactures Pty Limited entered into an agreement to acquire Tradelink Pty Limited from Fletcher Building Limited (NZSE:FBU) for AUD 170 million on August 12, 2024. As part of the agreement, Metal Manufactures will acquire 100% shares in Tradelink. The sale price of AUD 170 million is on a cash and debt-free basis. The consideration consists of AUD 160 million in cash and AUD 10 million in the form of earnout payment. The cash consideration will be settled on September 30, 2024. The proceeds from the sale will be used to pay down debt.
There are no regulatory or other conditions to be satisfied to complete the transaction. The transaction is expected to take up to two years and be completed by September 2026. Announcement • Jul 31
Fijian Holdings Limited and Fiji National Provident Fund completed the acquisition of 50% stake in Fiji construction business from Fletcher Building Limited (NZSE:FBU). Fijian Holdings Limited and Fiji National Provident Fund entered into an agreement to acquire 50% stake in Fiji construction business from Fletcher Building Limited (NZSE:FBU) for approximately NZD 20 million on June 18, 2024. Subject to finalization of completion accounts, the Company expects to record a non-cash impairment of approximately NZD 15 million on the business. The transaction is subject to Fijian regulatory approvals. The transaction is expected to close in late June or early July 2024.
Fijian Holdings Limited and Fiji National Provident Fund completed the acquisition of 50% stake in Fiji construction business from Fletcher Building Limited (NZSE:FBU) on July 31, 2024. Announcement • Jul 08
Tradelink Takeover in Pipeline for Allegro Funds as US Interest Wanes Sydney-based Allegro Funds Pty Ltd. is shaping up to be in a strong position to buy Fletcher Building Limited (NZSE:FBU) unit Tradelink, with a US-based private equity firm vying for the plumbing supplies unit believed to have left the contest. DataRoom understands that Pacific Avenue Capital Partners, a Los Angeles-based private equity firm consisting of former Platinum Equity executives, has fallen away from the sale process after earlier showing interest. Also no longer in the mix is Sydney turnaround fund Anchorage Capital Partners. However, it is understood that Allegro Funds, which also specialises in turnaround opportunities, remains in the frame. The contest, run by Miles Advisory, is shaping up to reach a conclusion by August 2024. Tradelink was placed up for sale by Fletcher Building after the company started wrestling with large debt levels of about $2 billion against a $2 billion market value and lower earnings as recessionary conditions in New Zealand and a weaker trading environment in Australia affected its bottom line. Earlier, there were expectations that Fletcher Building could lure anywhere between $100 million and $300 million for the business, which competes with industry heavyweight Reece and has struggled against its larger competitor. New Zealand-based Auckland Airport director Mark Cairns is believed to be in the running. Fletcher's most attractive assets are considered to be plasterboard, insulation, concrete and cement and aggregates operations, while the rest would be a distraction for a buyer. Announcement • Jun 26
Martin Brydon to Step Down as Director of Fletcher Building Limited on 30 June 2024 Fletcher Building Limited announced that Martin Brydon has informed the Board of his decision to step down as a director on 30 June 2024. This brings forward his departure, which was originally scheduled for the Company's 2024 Annual Shareholders'Meeting in October 2024. Announcement • Jun 19
Fijian Holdings Limited and Fiji National Provident Fund agreed to acquire 50% stake in Fiji construction business from Fletcher Building Limited (NZSE:FBU) for NZD 20 million. Fijian Holdings Limited and Fiji National Provident Fund entered into an agreement to acquire 50% stake in Fiji construction business from Fletcher Building Limited (NZSE:FBU) for approximately NZD 20 million on June 18, 2024. Subject to finalization of completion accounts, the Company expects to record a non-cash impairment of approximately NZD 15 million on the business. The transaction is subject to Fijian regulatory approvals. The transaction is expected to close in late June or early July 2024. Announcement • Jun 14
Fletcher Building Limited to Report Fiscal Year 2024 Results on Aug 21, 2024 Fletcher Building Limited announced that they will report fiscal year 2024 results Pre-Market on Aug 21, 2024 Announcement • Apr 05
Bevan McKenzie Decides to Resign as Group Chief Financial Officer of Fletcher Building Limited, Effective October 4, 2024 Fletcher Building Limited announced that Bevan McKenzie, the Group Chief Financial Officer, has decided to resign and will leave the business on 4 October 2024. The company said that over the past seven years, Bevan has been a key member of the Executive team. He has played an important role in focusing the Group on its core businesses, enhancing their performance, and putting in place quality growth strategies. Bevan will remain with the business until 4 October 2024, the company will commence a search for a new Group CFO and inform the market once an appointment has been made. Announcement • Dec 15
Fletcher Building Limited to Report First Half, 2024 Results on Feb 14, 2024 Fletcher Building Limited announced that they will report first half, 2024 results on Feb 14, 2024 Announcement • Dec 14
Fletcher Building Announces Executive Changes Fletcher Building announced the appointment of Gareth O'Reilly for the role of Chief Executive of the company's Australia Division. He will be joining the business on 19 February 2024. Gareth is currently CEO of the Pacific division of Schneider Electric. He is a seasoned commercial leader with a track record of delivering outstanding commercial results. In addition, he brings a stronginternational perspective with deep experience leading enterprise-wide digital transformation. Gareth's strengths and passion for the customer means he is well placed to lead the Division for its next phase of growth. In addition, Andrew Clarke, current Group General Counsel and Company Secretary, has assumed the additional role of Commercial Director, reporting to the Group Chief Executive Officer, in which he will lead a number of projects including the Company's response to the Western Australia plumbing issues. While Andrew will stay with the organisation, the company intends to find a replacement for his current roles of Group General Counsel and Company Secretary in 2024. Announcement • Nov 24
Fletcher Building Limited Announces Resignation of Bruce McEwen, Chief Executive of Distribution Division, Effective At the End of March in 2024 Fletcher Building announced that Bruce McEwen, Chief Executive of the company's Distribution division, has decided to resign and will leave the business at the end of March in 2024. Bruce has made a significant contribution to the Group and in particular achieved success with the ongoing digitisation of the business as move customers online and deliver them enhanced services. A search is underway, and company will inform the market once an appointment is made. Announcement • Aug 18
Fletcher Building Limited, Annual General Meeting, Oct 27, 2023 Fletcher Building Limited, Annual General Meeting, Oct 27, 2023, at 10:30 NZST - New Zealand Standard. Announcement • Jun 23
Fletcher Building Limited Appoints Sandra Dodds as A Non-Executive Director, Effective 1 September 2023 Fletcher Building Chair Bruce Hassall announced the appointment of Sandra Dodds as a non-executive director of the Company effective 1 September 2023. The Board has determined that Sandra is an independent director. Ms Dodds has also been appointed to the Board of Fletcher Building Industries Limited. Ms Dodds is currently a Director for Contact Energy Limited, Snowy Hydro Limited, OceanaGold Limited and Beca Group Limited. She was previously CEO Urban Infrastructure for Broadspectrum (formerly Transfield Services Ltd) and a member of the executive leadership team. Her career also includes senior executive roles with Downer EDI Ltd. and Fulton Hogan Ltd. Announcement • Jun 21
Fletcher Building Limited Announces Executive Changes Fletcher Building Limited announced Chris Reid has retired as Company Secretary, effective 16 June 2023; and Ashleigh Harding is appointed as an additional Company Secretary, effective 19 June 2023. Announcement • Jun 15
Fletcher Building Limited to Report Fiscal Year 2023 Results on Aug 16, 2023 Fletcher Building Limited announced that they will report fiscal year 2023 results Pre-Market on Aug 16, 2023 Announcement • Feb 15
Fletcher Building Limited Approves Interim Dividend for the Six Months Ended 31 December 2022, Payable on 6 April 2023 Fletcher Building Limited approved an Interim Dividend of 18.0 cents per share for the six months ended 31 December 2022 to be paid on 6 April 2023. Announcement • Dec 15
Fletcher Building Limited to Report First Half, 2023 Results on Feb 15, 2023 Fletcher Building Limited announced that they will report first half, 2023 results on Feb 15, 2023