PGG Wrightson declares dividend as profits surge 248%
Agricultural support giant PGG Wrightson will pay a dividend this year on the back of an improved performance buoyed by increased optimism in the sector.
Rural supply business PGG Wrightson Ltd has bought animal health products manufacturer Nexan Group for $20 million.
The transaction will be settled later this month.
PGW's wholesale trading division, Agritrade, is the exclusive distributor of the Nexan animal health product range in New Zealand.
PGW chief executive Stephen Guerin says the acquisition reinforces PGW's commitment to supporting local manufacturing.
"Agritrade, the wholesale trading division of PGW, has maintained a strong relationship with Nexan for over a decade, playing a key role in building its Vetmed brand from the ground up to establish a track record of proven performance that is supported by a growing customer following," says Guerin.
Through Agritrade, PGW continues to distribute Nexan's full product range, which has expanded over the years to include additional brands such as Active+, Cervidae, Farma, and Centramax.
Current owners and directors of Nexan, Gary Harrison and Jon Petherick, say they are proud of Nexan's contribution to supporting New Zealand farmers through the manufacture and supply of locally made animal health remedies, including veterinary products and pharmaceuticals.
"Joining PGW marks an exciting new chapter for Nexan, one that will allow us to continue building on that legacy with even greater reach and capability, while staying committed to innovation and serving rural communities.
"There has been a strong and positive relationship between the Nexan and PGW teams for many years now and this seems to us like a natural progression of that relationship."
Guerin says the acquisition is the perfect fit for their business, and it ensures Nexan's trusted range of products will remain New Zealand made, backed by local expertise, and aligned with the needs of rural communities.
"By keeping the Nexan brand and operations within the country, we are safeguarding local jobs, R&D, knowledge and capability, while further strengthening our ability to support on-farm productivity," he says.
"This acquisition is not just about growth; it is about ensuring New Zealand farmers have access to locally developed and produced products that drive profitability and sustainability on-farm."
Guerin says the acquisition is a positive step forward in PGW's mission to champion local agribusiness and deliver genuine value to farmers.
According to the most recent Rabobank Rural Confidence Survey, farmer confidence has inched higher, reaching its second highest reading in the last decade.
From 1 October, new livestock movement restrictions will be introduced in parts of Central Otago dealing with infected possums spreading bovine TB to livestock.
Phoebe Scherer, a technical manager from the Bay of Plenty, has won the 2025 Young Grower of the Year national title.
The Fencing Contractors Association of New Zealand (FCANZ) celebrated the best of the best at the 2025 Fencing Industry Awards, providing the opportunity to honour both rising talent and industry stalwarts.
Award-winning boutique cheese company, Cranky Goat Ltd has gone into voluntary liquidation.
As an independent review of the National Pest Management Plan for TB finds the goal of complete eradication by 2055 is still valide, feedback is being sought on how to finish the job.
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