AsureQuality Acquire Majority Shareholding in NZIDT
Acquisition paves the way for ongoing delivery of robust Halal auditing and certification services
AsureQuality, the largest provider of food assurance services to the food and primary production sectors, has acquired an 80% majority share in NZIDT Ltd., a market-leader in Halal audit and certification services. Existing shareholder and NZIDT CEO, Mr Taoufik Elidrissi, will retain the remaining 20% share of the business.
NZIDT will receive additional operational business support from AsureQuality, including finance, HR, IT and administration, allowing the company to focus on continuing to achieve its vision to be recognised as the leading Halal services provider in New Zealand.
Mr Elidrissi says the investment demonstrates a commitment to supporting the growing need for high quality professional Halal services in New Zealand and may also help to open doors internationally for the company and New Zealand exporters.
“AsureQuality is a respected market leader in food auditing and certification. Having their support will enable us to leverage the combined strengths of both organisations to ensure the ongoing delivery of robust Halal auditing and certification services to key food industry sectors in New Zealand.”
NZIDT will continue to operate as a stand-alone business, managed and run by practising Muslims who intimately understand Halal. In addition, all current employees are being retained and the team will continue to deliver the expert Halal audit and certification services NZIDT are known and trusted for.
AsureQuality CEO John McKay says this is an exciting move for both companies and is a natural extension of the Halal training services AsureQuality already offers.
“AsureQuality has been actively engaged in the Halal market for some time through the training services we provide. This investment further builds on that offering and will enable us to further build on the skills and expertise of NZIDT and support the organisation to focus on do what they do best.”
The New Zealand regulator, MPI, are aware of the acquisition and are satisfied that it complies with all of their regulatory requirements. The appropriate market authorities in the key Muslim markets of Saudi Arabia, the United Arab Emirates, Malaysia and Indonesia have also been engaged to confirm the acquisition does not affect NZIDT’s existing recognitions and approvals. Key industry bodies and customers that require Halal certification in New Zealand are also supportive of the proposed acquisition.