AgriFoodNZ Setting Up To Invest in Food & Beverage Sector
AgriFoodNZ Setting Up To Invest in New Zealand’s Food & Beverage Sector
Signs Memorandum of Understanding with Bank of China NZ
8 December 2015 - The Bank of China (NZ) and AgriFoodNZ have today announced that they have signed a Memorandum of Understanding to help New Zealand food and beverage companies seeking to gain access to investment capital and expertise in marketing and distributing product and services in China.
AgriFoodNZ (Food & Agricultural Trading New Zealand Limited) was recently formed to facilitate investment and enhance the marketing and distribution capability of New Zealand food and beverage products.
Commenting on today’s announcement, AgriFoodNZ Chairman, Mr Peter Goodfellow said: “We are establishing an investment fund for New Zealand's small to medium enterprises (SMEs) to build capacity in the rapidly growing Chinese market. We have existing and successful channels into the Chinese consumer market for SMEs with established brands.
“Our aim is to take a minority position in SMEs, working alongside existing business owners to enable them to achieve their aims and objectives in the China market. We focus on added-value opportunities, helping SMEs to grow their capacity and prepare to launch or expand in China. The investors in our Fund have established successful marketing and distribution channels in China both online and offline.
“Our directors are excited by the growing number of food and beverage companies in New Zealand developing and applying innovative added-value strategies. We will help them grow to a higher level of output and profitability by using our experience, skills and knowledge of marketing and distribution in China,” added Mr Goodfellow.
The CEO of Bank of China in New Zealand, David Wang, said: “AgriFoodNZ is an ideal vehicle for capturing changing trends in consumer tastes and an increasing expectation of quality goods, especially in packaged and fresh foods due to quicker delivery times and advanced logistics.
“The potential for New Zealand businesses to participate in China's rapidly shifting market represents a significant opportunity,” Mr Wang added.
Mr Goodfellow added: “We are delighted to be aligned with the Bank of China in their very positive initiatives in the New Zealand banking and financial sector. The signing of a Memorandum of Understanding is a significant step forward for the development of the New Zealand food and beverage sector.
“The association with the Bank of China and its clients is an excellent step forward to that end. AgriFoodNZ is already engaging with a number of innovative New Zealand SMEs with a view to working with them to increase their output and link them into successful marketing and distribution operations in China. We believe our minority interest strategy ideally suits the interests and aspirations of New Zealand’s entrepreneurial SME business owners," Mr Goodfellow concluded.