Green light for acquisition
The merger of two of the country’s largest animal nutrition companies won’t lessen competition, the Commerce Commission has ruled.
Two farmer-owned rural traders are looking at merging their operations.
Farmlands Trading Society and Combined Rural Traders (CRT) have begun investigating a potential merger between the two cooperatives.
In a joint statement, the two co-ops said they have appointed external professional advisers to assist with their investigations. Shareholders will be given an update in mid-October.
"Any proposals would be subject to full consultation and a vote from all our cooperative members," the statement says.
It says given both cooperatives operate in the same sector but different markets, the possibility of a merger has been speculated by market commentators for a number of years
"The boards of each company will undertake a thorough evaluation process, which may take some time, before making any formal recommendations to shareholders. A final decision will be up to shareholders in both cooperatives to whom full information will be provided in addition to shareholder consultation meetings."
CRT operates 31 stores in the South Island. Farmlands operates 45 stores in the North Island.
Fonterra has cemented its position as the country’s number one cheesemaker by picking up nine NZ Champion of Cheese trophies this year.
New Zealand dairy processors are welcoming the Government’s commitment to continuing to push for Canada to honour its trade commitments.
An educational programme, set up by Beef + Land New Zealand, to connect farmers virtually with primary and intermediate school students has reported the successful completion of its second year.
The Food and Agriculture Organisation of the United Nations (FAO) has welcomed a resolution adopted by the United Nations (UN) General Assembly to declare 2026 International Year of the Woman Farmer.
Waikato herd health veterinarian Katrina Roberts is the 2024 Fonterra Dairy Woman of the Year.
Horticulture NZ chief executive Nadine Tunley will step down in August.