Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Carr Group buys Elders NZ rural service

Carr Group buys Elders NZ rural service

By Suze Metherell

June 20 (BusinessDesk) - South Island investor Carr Group has bought Elders Rural Services New Zealand for an undisclosed amount from ASX-listed Elders Australia and New Zealand-based Sredle Rural Services.

The Ashburton-based investor is adding to its Winslow agribusiness and chief executive Craig Carr said there were no immediate plans to change either business. Winslow is a conglomerate of rural-focused businesses including farming and dairy machinery services, grain, feed and seed companies as well as owning The Honey Company, while Elders Rural Services has livestock and wool agents across the country, farm supplies and rural insurance offerings.

"It will be business as usual and as we settle in we will look for synergies between both business to ensure we achieve business efficiencies," Carr said. "Bringing together two strong agribusinesses under one New Zealand entity will not only expand our footprint within New Zealand but also across the global marketplace where we currently operate and export to more than 40 countries."

Last year, Elders Australia rejected an offer from Ruralco Holdings for its rural services business, which included its half stake in New Zealand’s Elders Rural Holdings. The Australian company put its Rural Services division up for sale October 2012 but has since restructured the business and is no longer planning to sell the unit.

Elders' ASX-listed shares rose 14 percent to 16 Australian cents.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Gareth Morgan: The Government’s Fresh Water Policy – Revisited

Fresh water quality is the latest area to be in the sights of Gareth Morgan and his research organisation The Morgan Foundation... They found that the fresh water policy was a bit murkier than the Environment Minister let on. More>>

ALSO:

Interest Rates: RBNZ Hikes OCR To 3.5%, ‘Period Of Assessment’ Now Needed

Reserve Bank governor Graeme Wheeler raised the official cash rate as expected, while signalling a pause in rate hikes to assess the impact of moves so far this year. The kiwi dollar sank after Wheeler said its strength was “unjustified” and that the currency could have “a significant fall.” More>>

ALSO:

Fonterra: Canpac Site 'Resize' To Focus More On Paediatrics

Fonterra is looking at realigning its packing operations at Canpac, in the Waikato, to focus more on paediatric nutritionals... The proposed changes could mean around 110 roles may not be required at the site which currently employs 330. More>>

ALSO:

Scoop Business: Postie Plus Brand Gets 2nd Chance With Well-Funded Pepkor

The Postie Plus brand is getting a new lease of life after South Africa’s Pepkor bought the failed retailer’s assets out of administration and said it will use its purchasing power to reduce costs of stock and fatten margins. More>>

ALSO:

Warming: Warming Signs From State Of Climate Report

Climate data from air, land, sea and ice in 2013 'reflect trends of a warming planet' -- says the latest State of the Climate report, launched by U.S. and New Zealand scientists. More>>

ALSO:

Scoop Business: Embrace Falling Home Affordability, Says NZIER

Despair over the inability to afford a house is misplaced and should be embraced as an opportunity to invest in more wealth-creating activity, says the principal economist at the New Zealand Institute of Economic Research, Shamubeel Eaqub. More>>

Productivity Commission: NZ Regulation Not Keeping Pace

New Zealand regulators often have to work with out-of-date legislation, quality checks are under strain, and regulatory workers need better training and development. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news