Bremworth takeover: David Ferrier’s 90c offer recommended by board
David Ferrier’s 90 cents per share offer for a partial takeover of Bremworth has just snuck into the independent adviser’s valuation range, businessDesk reports.
Clarien Partners gave the NZX-listed carpet maker a valuation range of between 87c and $1.07 per share.
Bremworth’s board subcommittee, whose members have signalled their intention to resign at the end of the month, set up to deal with the sales process, has recommended shareholders accept the offer.
Ferrier’s offer, made through his Mangawhai Collective entity, came out on top after Godfrey Hirst’s owner, Floorscape, made a second, simplified offer for the whole company at 95 cents per share.
Last week, Trevor Burt, Julie Bohnenn and Murray Dyer, who make up the subcommittee, said they would resign from Bremworth immediately after its annual report was approved and published.
Earlier, Mohawk Industries, through its Floorscape subsidiary which owns Godfrey Hirst, had offered to buy Bremworth under a scheme announced in October 2025.
Mangawhai, Bremworth’s largest shareholder with a 19.7% stake, then signed lock-up deeds with 13 shareholders for a partial takeover.
The proposed acquisition of roughly 22.2 million shares would take it to 50%–55%; the indicated minimum price was 90c a share, valuing the transaction at least $20 million.
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