PPCS cleared to acquire Venison Rotorua Limited

16 May 2005

PPCS cleared to acquire Venison Rotorua Limited

The Commerce Commission has cleared PPCS Limited (PPCS) to acquire a 19.9% shareholding of Killin Limited and a 60.2% shareholding of New Zealand Deer Farms Limited in Venison Rotorua Limited (VRL).

Commission Chair Paula Rebstock said that the Commission considers that PPCS and VRL are already associated persons under s47(3) of the Commerce Act 1986 and that the Commission was satisfied that the proposed acquisition would not have, or would not be likely to have, the effect of substantially lessening competition.

PPCS is a farmer owned co-operative based in Dunedin, and is a meat marketing company, exporting sheepmeat, beef, venison and associated products to around 60 countries. Presently, PPCS has a 19.9% shareholding in VRL.

VRL is a procurer, slaughterer and processor of deer based in Rotroua. It was incorporated in June 2001 when PPCS acquired Mair Venison Limited's Rotorua Venison plant.

A public version of the written decision will shortly be available on the Commission's website, www.comcom.govt.nz.

ENDS

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