Fonterra, Sharesies join to make share trading easier
Fonterra is teaming up with wealth app provider Sharesies to make it easier for its farmer shareholders to trade co-op shares among themselves.
Fonterra will offload its Farm Source livestock business to family-owned business Carrfields Livestock on March 1.
Richard Allen, Farm Source stores director, says the decision to sell was made in the context of a larger review underway within the co-op.
“In the context of the review of the co-op’s assets and investments, we have made the decision to sell the livestock division to Carrfields Livestock. This will better serve the livestock team and the farms they service.
“While Farm Source’s livestock division has contributed positive returns since inception, we believe the investment required to maintain and grow this division can be more effectively targeted towards improving core areas of the Farm Source business,” says Allen.
Farm Source, and previously as RD1, has had a livestock division since 2005. Today, it has about 25 agents supporting farmers across the country. In 2017, Farm Source Livestock facilitated the purchase of almost 200,000 animals.
Craig Carr, Carrfields Group managing director, says this acquisition is both exciting and a strategic opportunity for Carrfields Livestock to fill gaps in their current national network.
“This acquisition will take the Carrfields Livestock team to over 150 livestock agents spread right across the country. This strategic partnership will offer Farm Source clients and Fonterra farmer owners access to a nationwide agent and sale yard network provided by a New Zealand family-owned business,” says Carr.
The country’s 4200 commercial fruit and vegetable growers will vote from May 14 on a new HortNZ levy.
Meat processor Alliance Group is asking farmer shareholders to inject more capital in order to remain a 100% co-operative.
A vet is calling for all animals to be vaccinated against a new strain of leptospirosis (lepto) discovered on New Zealand dairy farms in recent years.
Dairy
Rural banker Rabobank is partnering with Food Rescue Kitchen on a new TV series which airs this weekend that aims to shine a light on the real and growing issues of food waste, food poverty and social isolation in New Zealand.
Telco infrastructure provider Chorus says that it believes all Kiwis – particularly those in the rural areas – need access to high-speed, reliable broadband.
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