Kiwi bed maker Sleepyhead has announced a $55m deal to buy two Australian businesses, as it looks to ramp up its offshore production.

The Singapore stock exchange takeover of its Australian counterpart is "good for Australia, bad for us," says an adviser to John Key.

Pernod Ricard New Zealand, the local arm of the French liquor company, has sold a dozen wine brands and some wineries to a Lion Nathan New Zealand-led joint venture for $88 million.