Farmlands defends card fee hike
A Farmlands shareholder is questioning the rural trader’s decision to more than double its annual card fee.
The Commerce Commission approved the purchase today: the completion of sale is planned for 1 June 2024.
The purchase of SealesWinslow from fertiliser co-operative Ballance will bring it together with Farmlands’ feed businesses - NRM and McMillan, increasing the co-operative’s feed manufacturing footprint into the North Island. The merger of these businesses will deliver improved operating efficiencies, reach and capability.
Farmlands chief executive Tanya Houghton says that SealesWinslow is a great match for Farmlands, combining a co-operative heritage, strong feed assets and expertise.
“Bringing our combined assets, expertise and market reach together, offering three leading animal nutrition brands, we’ll increase our ability to create long-term benefits and value for shareholders and customers.”
“We’re very excited to be able to welcome the SealesWinslow team into our Farmlands whānau. We’ll be one huge step closer to achieving our goal of being the number-one supplier of animal nutrition to New Zealand farmers. We’ll offer our customers the most comprehensive range of feed solutions in the country, showing our commitment to the industry, stakeholders and customers.”
Farmlands is committed to smart partnerships and acquisitions such as this, to provide the best solutions to deliver on being the best buying group for New Zealand farmers and growers. The co-op’s last major partnership was created in 2022 with the establishment of Fern Energy, which is now the largest rural fuel provider in New Zealand.
Houghton says that the Farmlands team will begin working closely with Ballance and SealesWinslow leadership to ensure the transition is a positive one for the teams involved.
“The key thing to note is that SealesWinslow will continue to produce its own leading brand of nutrition products and service its existing customers as it always has.”
Ballance Agri-Nutrients chief executive Kelvin Wickham notes that the divestment aligns with Ballance’s focus on its core of providing reliable and affordable supply of nutrients for New Zealand farmers and growers.”
SealesWinslow was established in 1968. In 2011, Ballance purchased 51% of SealesWinslow and acquired the remaining 49% in 2013. Ballance has grown the company’s reputation and reach, with SealesWinslow now offering high-value animal feed brands throughout New Zealand.
