New Zealand
June 19, 2007
PGG Wrightson Seeds
has signed an unconditional contract to purchase all the shares
in Kahibah Holdings Pty. Ltd., which trades as
Auswest Seeds in
New South Wales and Southern Queensland.
The Chief Executive Officer, Barry Brook, says the purchase will
further strengthen PGG Wrightson’s presence in the Australian
seeds market, where it is already a leading regional supplier of
proprietary, turf grass and other forage seeds. PGG Wrightson
has been involved with seed production, distribution and
marketing in Australia since 1938, supported over the years by
research, breeding and evaluation facilities on both sides of
the Tasman.
Auswest Seeds, based in Forbes, is the largest independently
owned wholesaler of pasture seed in New South Wales and has a
growing business in Southern Queensland. Its operations cover
seed distribution, sales, marketing, seed cleaning and mixing,
and seed treating and coating.
Auswest Seeds will remain under the day-to-day management of the
existing Managing Director, Graham West, reporting through the
General Manager of PGG Wrightson Seeds, John McKenzie.
“Auswest Seeds is a well-run company with an excellent brand and
very good staff,” Mr McKenzie said. “PGG Wrightson Seeds has had
a close partnership with Auswest for several years. The
acquisition is a logical move to help build our business in what
is a key target market, and grows our total Australian business
by about 20 percent.
“Auswest Seeds will continue to distribute products from a wide
range of suppliers. We intend to develop the company further on
the existing business model, with particular emphasis on markets
in New South Wales and Queensland.”
Mr West said: “Whilst the sale brings the family ownership of
the business to an end after 55 years, it also marks a new
beginning. It is an exciting opportunity to develop the business
further with the involvement of a strong corporate shareholder.
Above all, it will enable us to provide a new level of service
and performance for our large number of customers.” |
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