Burns Philp

OVERALL
Owned	NZL
Rating

Food and beverage manufacturing

The Rank Group, owned by New Zealand's richest man, Graeme Hart, acquired a 53.7% shareholding in Burns Philip & Company Ltd in Jan 2004. In late 2005 Goodman Fielder was floated on ASX and NZSX for $2.2billion. Burns Philp kept a 20% stake.In May 2006 Burns, Philp & Co. sold the Uncle Tobys breakfast cereals and soups business for A$890 million ($669 milion) to Nestle Australia Ltd In November 2006 Burns Philp was privatised and is now wholly-owned by Graeme Hart's Rank Group.

Company Ownership

Burns, Philp & Company Ltd	NZL	website
Rank Group Ltd       owns 100% of Burns, Philp & Company Ltd	NZL	website
Investment company Rank constituent companies operate internationally in packaging, consumer goods, building supplies, and automotive aftermarket industries. Wholly owned by New Zealand's richest man, Graeme Hart.

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Company Assessment

PRAISE	CRITICISM	INFORMATION
Burns, Philp & Company Ltd
		No tax paid in 2016/7 According to data released by the Australian Tax Office in Dec 2018, this company was one of 2,159 local and foreign-based companies that paid no tax in Australia in 2016-17. Please note however that companies pay income tax on profits, not revenue (total income). While some companies use tax havens and loopholes to avoid paying their fair share of tax in Australia, other companies that paid no tax have perfectly legitimate reasons. [Source 2018][More on Finance]
Rank Group Ltd
No assessment data currently available for Rank Group Ltd

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