ANZCO Foods

Last updated

ANZCO Foods Limited
Company type Subsidiary
IndustryMeat production
Founded1984 in New Zealand
Founder Graeme Harrison
Headquarters
Christchurch
,
New Zealand
Area served
Worldwide (80 countries) [1]
ProductsBeef and lamb
RevenueIncrease2.svg $147.7 million [2]  (2022)
Owner Itoham Foods
Number of employees
3,000 [3]
Website anzcofoods.com

ANZCO Foods or simply ANZCO (formally ANZCO Foods Ltd and previously the Asian New Zealand Meat Company Limited) is a New Zealand meat producer fully owned by the Japanese company Itoham Foods, which in turn is part of Itoham Yonekyu Holdings. In 2016, ANZCO Foods was New Zealand's fifth-largest exporter, with a turnover of NZ$1.5b, and 3,000 employees.

Contents

History

ANZCO started as a company in 1984 under the legal name Asian New Zealand Meat Company Limited [4] owned through the New Zealand Meat Producers Board by individual farmers and led by Graeme Harrison. [5] In 1989, Itoham Foods and ANZCO formed a 50–50 partnership and founded Five Star Beef, a company that operates a feedlot in Wakanui near Ashburton; this is New Zealand's largest feedlot and mainly exports to Japan. [6] [7] In 1995, the ANZCO management team led a buy-out of the company from the Meat Producers Board, with Itoham Foods taking a 48.3% minority shareholding and another Japanese company, Nissui (Nippon Suisan Kaisha Ltd), taking a smaller shareholding. [6] Through that buy-out, the initial investment of NZ$350,000 returned over NZ$40m to the original owners. [5] ANZCO Foods started operating under the new ownership arrangement on 17 August 1995. [8]

In 2015, founder Harrison announced that he intended to retire in the near future. This was accompanied by a restructure in shareholding. With approval from the Overseas Investment Office (OIO), [5] Itoham Foods increased its shareholding from 48.3% to 65% and paid just over NZ$40m for these transactions. The seven smallest shareholders were all offered to sell. Harrison himself sold down from just over 20% to 14%. Nissui sold part of its stake at this point (which made up just over 50% of the share transfer) with the balance coming from New Zealand shareholders. [9] [10]

In late 2017, Itoham Foods received OIO approval to become to sole owner by obtaining the remaining 35% shareholding. Nissui held 16.8% at that point, and Harrison and other managers held 18.2%. Itoham Foods is a subsidiary to Itoham Yonekyu Holdings. Itoham is publicly listed and 39% owned by the Mitsubishi Corporation. Harrison retired from the company after the March 2018 annual general meeting; he had been at the helm of the company for 34 years, first as managing director and then as chairperson. [11] [12]

Governance

ANZCO founder Graeme Harrison in 2017 Graeme Harrison (cropped).jpg
ANZCO founder Graeme Harrison in 2017

Chairperson: [13] [14]

Chief executives: [6] [14]

Land holdings

ANZCO Foods feedlot in Wakanui

ANZCO Foods holds land in ten locations in New Zealand. [17]

Land area (ha)LocationDescription
73.8 Eltham, Taranaki Anzco Foods Eltham meat processing plant (previously known as Riverlands Eltham) [18]
6.9 Waitara, TaranakiANZCO Foods Waitara (previously Waitara freezing works) where meat patties for McDonald's (New Zealand and Pacific Islands) are produced [19] [20]
203.9 Bulls, Rangitikei District ANZCO Foods Manawatu meat works
227.6Christy's Road, Canterburyfarming
602.8Seaside Road, Wakanui, CanterburyFive Star Beef feedlot
361.4Seafield Road, Canterburyfarming
24.6 Riverlands, Blenheim, MarlboroughWestmeat Blenheim [21]
5.3 Seafield, CanterburyANZCO Foods Canterbury (former Fortex Ashburton slaughter plant) [22]
0.5 Green Island, Dunedin, OtagoManufacturing of burgers [12]
141.5 Kokiri, WestlandANZCO Foods Kokiri, meat processing plant [23]

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References

  1. ↑ "Anzco Foods". planview.com. Retrieved 22 January 2024.
  2. ↑ RNZ (11 May 2023). "ANZCO Foods reports $147m profit". NZ Herald. Retrieved 22 January 2024.
  3. ↑ Schröter Technologie. "ON THE ROAD TO SUCCESS ACROSS THE GLOBE WITH BEEF JERKY". schroeter-technologie.de. Retrieved 22 January 2024.
  4. ↑ "Asian New Zealand Meat Company Limited (233178) Removed". Companies Office . Retrieved 30 June 2020.
  5. 1 2 3 Cronshaw, Tim (29 May 2015). "Larger Japanese stake in Anzco gains OIO approval". Stuff . Retrieved 23 May 2020.
  6. 1 2 3 "Retiring meat industry leader goes farming". Stuff . 10 January 2018. Retrieved 23 May 2020.
  7. ↑ Peden, Robert (24 November 2008). "Five Star feed lot". Te Ara: The Encyclopedia of New Zealand . Retrieved 23 May 2020.
  8. ↑ "Anzco Foods Ltd". Bloomberg News . Retrieved 23 May 2020.
  9. ↑ "ANZCO share sale bid". Otago Daily Times . 2 March 2015. Retrieved 23 May 2020.
  10. ↑ "Case 201510023 – Itoham Foods Inc". Land Information New Zealand. 13 April 2015. Retrieved 23 May 2020.
  11. ↑ Boot, Sophie (19 December 2017). "Japan's Itoham Yonekyu buys remaining share of Anzco Foods". National Business Review . Retrieved 23 May 2020.
  12. 1 2 Rae, Sally (16 January 2018). "Single owner for Anzco". Otago Daily Times . Retrieved 23 May 2020.
  13. ↑ Pickett, Brittany (8 February 2018). "Anzco chairman named to replace Sir Graeme Harrison". Stuff . Retrieved 23 May 2020.
  14. 1 2 "Our Executive Leadership team". ANZCO Foods. Retrieved 23 May 2020.
  15. ↑ "Food pioneer made a knight". The New Zealand Herald . 5 June 2011. Retrieved 24 May 2020.
  16. ↑ "Graduation Programme". Lincoln University. 2012. p. 34. Retrieved 29 July 2020.
  17. ↑ "Case 201710119 – Itoham Foods Inc". Land Information New Zealand. 12 December 2017. Retrieved 23 May 2020.
  18. ↑ Keith, Leighton (19 December 2019). "Inquiries being made into death at Taranaki meatworks". Stuff . Retrieved 23 May 2020.
  19. ↑ Mitchell, Stephanie (25 April 2019). "Made in Taranaki: The production line for McDonalds meat patties starts in Taranaki". Stuff . Retrieved 23 May 2020.
  20. ↑ Coster, Deena (21 October 2017). "Looking back: 20 years since Waitara lost its 'life blood' with the freezing works closure". Stuff . Retrieved 23 May 2020.
  21. ↑ Gooch, Carly (5 December 2019). "Westmeat Richmond sells to Raeward Fresh". Stuff . Retrieved 23 May 2020.
  22. ↑ Hutching, Chris (26 September 2017). "Fortex boss spills beans about jail and return to business". Stuff . Retrieved 23 May 2020.
  23. ↑ "ANZCO Foods Kokiri". ANZCO Foods. Retrieved 23 May 2020.
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