Wednesday, 09 January 2019 15:15

Fonterra to offload livestock business

Written by 

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.

 

More like this

Fonterra R&D: Innovation needs more than just PhDs

Common sense and good human judgement are still a key requirement for the super highly qualified staff working at one of New Zealand's largest and most important research facilities - Fonterra's R&D Centre at Palmerston North.

Featured

IFSO urges flood-affected residents to document damage for insurance

Following heavy rain which caused flooding in parts of Nelson-Tasman and sewerage overflows in Marlborough, the Insurance & Financial Services Ombudsman Scheme (IFSO Scheme) is urging homeowners and tenants to be cautious when cleaning up and to take the right steps to support claims.

Farmstrong marks 10 years of rural support

Nationwide rural wellbeing programme, Farmstrong recently celebrated its tenth birthday at Fieldays with an event attended by ambassador Sam Whitelock, Farmers Mutual Group (FMG), Farmstrong partners, and government Ministers.

National

Machinery & Products

Farming smarter with technology

The National Fieldays is an annual fixture in the farming calendar: it draws in thousands of farmers, contractors, and industry…

» Latest Print Issues Online

Milking It

110,000 visitors!

OPINION: It's official, Fieldays 2025 clocked 110,000 visitors over the four days.

Sticky situation

OPINION: The Federated Farmers rural advocacy hub at Fieldays has been touted as a great success.

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter