Blue Star, which offers services including printing, warehousing and logistics, was bought by CHAMP in 2006 in a deal that valued the company at around NZ$385m ($300m), the Wall Street Journal reported.
July has been a busy month for CHAMP, which last week tabled an A$186m ($192m) cash offer to take Australia’s Gerard Lighting Group private.
The offer has received the unanimous approval of board members including the Gerard family.
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