Green light for acquisition
The merger of two of the country’s largest animal nutrition companies won’t lessen competition, the Commerce Commission has ruled.
Two farmer-owned rural traders are looking at merging their operations.
Farmlands Trading Society and Combined Rural Traders (CRT) have begun investigating a potential merger between the two cooperatives.
In a joint statement, the two co-ops said they have appointed external professional advisers to assist with their investigations. Shareholders will be given an update in mid-October.
"Any proposals would be subject to full consultation and a vote from all our cooperative members," the statement says.
It says given both cooperatives operate in the same sector but different markets, the possibility of a merger has been speculated by market commentators for a number of years
"The boards of each company will undertake a thorough evaluation process, which may take some time, before making any formal recommendations to shareholders. A final decision will be up to shareholders in both cooperatives to whom full information will be provided in addition to shareholder consultation meetings."
CRT operates 31 stores in the South Island. Farmlands operates 45 stores in the North Island.
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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