Elders New Zealand sells to Carr Group
Elders New Zealand sells to Carr Group
South Island
based Carr Group have acquired Elders Rural Services New
Zealand (Elders) for an undisclosed amount from Elders
Australia Limited and New Zealand based Sredle Rural
Services.
Carr Group Managing Director, Craig Carr
said the opportunity to return Elders to Kiwi ownership was
exciting for both companies. “Bringing together two strong
agri-businesses under one New Zealand entity will not only
expand our footprint within New Zealand but also across the
global marketplace where we currently operate and export to
more than 40 countries. Supported by a team of over 400
staff in New Zealand, Australia, India, Africa and the
Middle East, this acquisition will take combined group
annual revenues to in excess of NZD300 million”.
Starting from humble beginnings 40 years ago in
Ashburton, founders Greg and Glenys Carr are still active in
the business along with their three sons and daughter.
“I am exceptionally proud of what we have achieved
in the agri-business space given where we started from”
said Greg Carr. “The opportunity to now work with another
iconic New Zealand agri company is immense and opens up many
avenues for growth”.
“The investment by the Carr
Group is a strong endorsement of the Elders business in New
Zealand” said Stuart Chapman, Elders Managing Director,
New Zealand. “It demonstrates focus and commitment to
continued growth in the agri sector locally and
internationally.
Clients can feel reassured that they
will continue to receive a high level of service as we
continue to focus on supporting their day-to-day needs”.
Elders will continue to operate under the leadership
of Stuart Chapman with no immediate plans to change either
business. “It will be business as usual and as we settle
in we will look for synergies between both businesses to
ensure we achieve business efficiencies” said Craig Carr.
END