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.
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