Long-Time Investor in NZ Looking to Expand

25 February 2011

Zuellig Group Considers Opportunities, Including Pgg Wrightson

Long-time New Zealand investor, The Zuellig Group, is looking to expand its already-strong presence in this country.

The Hong Kong-based company, which was founded by a Swiss family and is still privately-owned, has been operating in New Zealand for 40 years, primarily in the agricultural and healthcare sectors.

Senior group executive Peter Williams, himself a New Zealander, said today the company was always looking for new opportunities, particularly in those two key industries.

The company already owns tractor and machinery distribution group C B Norwood, which sells about half the tractors sold in New Zealand. It also has a long-standing interest in Pharmacybrands Ltd which recently announced the proposed acquisition of Radius Pharmacy.

“Given the extent of our agricultural investment here, one company we are currently considering is PGG Wrightson. It offers a wide range of products and services to the agricultural sector and we believe there are some great opportunities to add value,” said Williams.

He said Zuellig was aware there was a partial bid on the table for PGG Wrightson. “We understand that offer expires on April 15 and is from a Chinese-based company with little experience in New Zealand. Other than that, we have no comment to make on that bid.

“From our perspective, we are looking at a number of options for investment in PGG Wrightson, including potentially a strong cornerstone shareholding position.”

Williams said he would go into further detail about what form Zuellig’s interest in PGG Wrightson would take when he arrives in New Zealand next week, and added: “Wrightson has a long and, for the most part, proud history in New Zealand, dating back to the 19th century. Zuellig too has a century of history behind it and, like Wrightson, developed from a family business.

“We believe Zuellig’s strong values, international success and agricultural expertise can bring significant benefits to New Zealand companies such as PGG Wrightson.”

Williams said Zuellig was considering other New Zealand opportunities but it was too early to go into further detail.

ENDS

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