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

 

Fonterra’s Farm Source™ to Sell Livestock Division

09 January 2019

Fonterra’s Farm Source™ to Sell Livestock Division to Carrfields Livestock

Fonterra has today announced that it will sell the Farm Source™ livestock division to Carrfields Livestock – an established livestock agency provider.

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 Mr Allen.

Farm Source™ is working with Carrfields to develop a range of partnership offerings to ensure a positive connection and competitive offer remains for Fonterra farmers.

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 Mr Carr.



Farm Source™ and Carrfields Livestock are committed to ensuring a smooth transfer of employees and clients, minimising any disruption to the business with Carrfields Livestock’s ownership commencing 1 March 2019. For a small number of employees who will not have the option to transition to Carrfields Livestock, Farm Source™ will support them in identifying new opportunities within the Co-op.

ENDS


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Oil Exploration: Chevron, Equinor Depart NZ

Chevron and Norwegian oil giant Equinor have opted to abandon their joint exploration efforts off the east coast of the North Island... Chevron said the decision not to proceed with the next five-year stage of their work programmes was based on the firms’ broader portfolio considerations and not “policy or regulatory concerns.” More>>

ALSO:

Reference Group Proposal: Motorists, MTI Support Ban On Less Safe Car Imports

A proposal to ban some used car models from being imported into New Zealand is being welcomed by the Motor Industry Association, which says Japan's scraps are being sent here for waste disposal. More>>

ALSO:

Gordon Campbell: On Asking The Banks To Be Nicer To Farmers

Few would begrudge the idea that banks should be made to act more humanely – given the obscene profits that the Aussie banks are extracting annually from New Zealand, they can surely afford to cut some slack. More>>

ALSO:

Wider Net Ban, Other Threats: Plan To Expand Protection For Maui And Hector’s Dolphins

The Government is taking action to expand and strengthen the protection for Māui and Hector’s dolphins with an updated plan to deal with threats to these native marine mammals. More>>

ALSO: