PGG Wrightson

Last updated

PGG Wrightson Limited
Company type Public
NZX: PGW
Industry Pastoral
FoundedNovember 2005 (2005-November)
Headquarters,
Key people
Stephen Guerin (CEO)
Products Stock and station agent
Number of employees
2,100
Website pggwrightson.co.nz

PGG Wrightson Limited is an agricultural supply business based in New Zealand. It was created in 2005 through the merger of Pyne Gould Guinness Ltd and Wrightson Limited and has its roots in a number of stock and station agencies dating back to 1861. It is one of the major suppliers to the agricultural sector in New Zealand providing products such as seeds, grains, livestock, irrigation, farm equipment, insurance and financing.

Contents

History

The result of mergers within the stock and station agency industry in New Zealand, PGG Wrightson can trace its obvious ancestry back to 1861, with the establishment of Wright Stephenson & Co. [1]

Notable stock and station agencies that have merged to form PGG Wrightson include

PGG Wrightson 2005

In 2011 PGG Wrightson sold its finance division to Heartland Building Society to create a single larger rural financing organisation. [6]

In August 2018, it was announced that PGG had agreed to sell their Seeds business, PGW Seeds, to Danish company DLF Seeds for NZD $421 million. Although the deal is still subject to approval from the New Zealand Overseas Investment Office, it is expected to go through in early 2019. PGG Wrightson Seeds Holdings has operations in New Zealand, Australia, and South America. Under the deal, PGW and PGW Seeds will enter into a long-term distribution agreement for seed and grain. PGW will grant a brand licence to PGW Seeds for the continued use of the PGG Wrightson Seeds brand. [7]

In late 2018, the majority shareholder of PGW, the Chinese-owned Agria Corporation, was found guilty of fraudulent accounting by the United States Securities and Exchange Commission. Agria was subsequently ordered by the Overseas Investment Office to sell down its majority shareholding in PGW to 46.5%. [8]

PGG Wrightson Country Cup

The PGG Wrightson Country Cup is the Premier Competition over the region known as the Canterbury Country. The region includes clubs from the Ellesmere and North Canterbury Sub-Unions and the Mid Canterbury Rugby Football Union.

Notable people

Related Research Articles

Fletcher Challenge was a multinational corporation from New Zealand. It was formed in 1981 by the merger of Fletcher Holdings, Challenge Corporation and Tasman Pulp and Paper. It had holdings in construction, forestry, building, and energy, initially just within New Zealand and then internationally as well, and at one time was the largest company in New Zealand. In 2001 it was split into three companies, Fletcher Challenge Forests, Fletcher Building, and Rubicon.

<span class="mw-page-title-main">Stock and station agency</span> Agency providing business support to farmers

Stock and station agencies are businesses which provide a support service to the agricultural community. Their staff who deal with clients are known as stock and station agents. They advise and represent farmers and graziers in business transactions that involve livestock, wool, fertiliser, rural property and equipment and merchandise on behalf of their clients. The number and importance of these businesses fell in the late 20th century.

Sir John Anthony Anderson was a New Zealand businessman and sports administrator. He served as Chief Executive and Director of ANZ Bank New Zealand and after retiring at the end of 2005, became the chair of Television New Zealand in April 2006.

Richard Wyllie Loe is a retired All Black prop forward. He is a sports broadcaster on BSport, Radio Live and SKY Sport.

Michael Craig Norgate was a New Zealand accountant and business leader in agricultural processing, marketing and related areas. He had a career as chief executive officer (CEO) of dairy companies Kiwi Co-operative Dairies and Fonterra Co-operative Group, before consolidating the rural servicing industry through PGG Wrightson. His attempt to drive similar changes in the meat industry coincided with the advent of the global financial crisis and resulted in significant losses both for PGG Wrightson and his own private equity company.

David Churchill Gould was a former New Zealand rower and businessman. He won a silver medal representing his country in the men's coxless pair with his brother, Humphrey, at the 1950 British Empire Games.

Arthur Humphrey Gould was a New Zealand rower who won a silver medal representing his country in the men's coxless pair with his brother, David, at the 1950 British Empire Games. Humphrey Gould was also a prominent businessman in Christchurch, rising to become managing director of the stock and station firm Pyne Gould Guinness.

Donald Reid was a Scottish-born 19th-century farmer, landowner, and businessman in Otago, New Zealand. A member of the Otago Provincial Council he was later a Member of Parliament for ten years between 1866 and 1878.

<span class="mw-page-title-main">New Zealand Loan and Mercantile Agency Company</span> New Zealand stock and station agency

The New Zealand Loan and Mercantile Agency Company provided investments and loans for trade and commerce in New Zealand and Australia.

<span class="mw-page-title-main">Myer Caselberg</span> Storekeeper, businessman, local politician

Myer Caselberg was a New Zealand storekeeper, businessman and local politician. He was born in Gaorah, Poland in 1841. He was Mayor of Masterton from 1886 to 1888.

Heartland Bank is a New Zealand owned bank that was created in 2011 through the merging of four financial organisations. Heartland was granted its bank registration by the Reserve Bank of New Zealand in 2012. It specialises in motor vehicle loans, reverse mortgages, small business finance, livestock finance, savings, investments and deposits.

<span class="mw-page-title-main">Wright Stephenson</span> New Zealand stock and station agency

Wright Stephenson was a stock and station agency founded in Dunedin, New Zealand, in 1861.

<span class="mw-page-title-main">Silver Fern Farms</span>

Silver Fern Farms Limited is a New Zealand multinational meat company. It is owned in equal partnership by Silver Fern Farms Co-op Ltd, a cooperative of 16,000 New Zealand sheep, cattle and deer farmers and Shanghai Maling Aquarius Ltd. The company is New Zealand's largest livestock processing and marketing company. It has investments in manufacturing, meat processing, transport of live stock, export logistics and meat marketing, with associated companies including, New Zealand and Australian Lamb Company Limited, The Lamb Co-Operative, Inc, Robotic Technologies Limited, Livestock Logistics Nationwide Limited. Kotahi Logistics LP, Ovine Automation Limited, FarmIQ Systems Ltd, Primary Collaboration NZ Ltd and the Red Meat Profit Partnership.

<span class="mw-page-title-main">Henry Le Cren</span>

Henry John Le Cren was a New Zealand merchant. Born in London, he was an early settler in Lyttelton and traded both in the port town and central Christchurch. He moved to Timaru in 1858 and is regarded as one of the town's pioneers. Companies owned by him or his eldest son are predecessors to the New Zealand agricultural supply business PGG Wrightson.

Rabobank New Zealand Limited is a bank in New Zealand, a subsidiary of Rabobank Nederland. Rabobank focuses on rural banking, business banking and saving services. The New Zealand subsidiary was registered in 1994, and as of June 2022, has a market share of approximately 3%.

Ngāi Tahu Holdings Corporation Limited is owned by the Ngāi Tahu iwi of the South Island of the New Zealand. Its main interests are in tourism, fisheries, property and forestry and it is among the wealthiest iwi in New Zealand. Ngāi Tahu annually contributes more than $200 million to the South Island economy.

Murray Roberts & Co Limited owned a stock and station agency in New Zealand. For a time, it was New Zealand's largest wool exporter. Its business began in Green Island, Dunedin as a fellmongery owned by the Melbourne partners. Under direction of young John Roberts from 1867, it made very substantial investments in rural property in Otago and Hawke's Bay and spread as a stock and station agency through Otago and Southland and the lower half of the North Island.

<span class="mw-page-title-main">National Mortgage and Agency Company of New Zealand</span> New Zealand stock and station agency

National Mortgage and Agency Company of New Zealand Limited owned a nationwide stock and station agency business originally intended to invest directly in New Zealand pastoral activities and lend to other participants in that industry. By the 1960s as well as the export of wool and meat and dealing in livestock it provided grain and seed merchandising, wholesale grocery services including wines and spirits and arrangement of property and other real estate sales.

Williams & Kettle Limited with headquarters in Napier, New Zealand, owned a stock and station agency business and a general merchants business with branches throughout the east coast of the North Island of New Zealand. Incorporated as a co-operative in 1891, it had been founded in 1885 by landowner and businessman Frederic Williams (1854–1940) with Nathaniel Kettle (1854–1940), a brother-in-law of John Roberts the local principal of Dunedin's Murray Roberts and a former Murray Roberts & Co employee.

<span class="mw-page-title-main">Rod Weir</span> New Zealand businessman (1927-2021)

Sir Roderick Bignell Weir was a New Zealand businessman.

References

  1. Martin, J.T. (25 March 1948). "WRIGHT, STEPHENSON, & CO LTD. A BRIEF HISTORY". Otago Daily Times. Retrieved 21 November 2024.
  2. 1 2 "Fletcher Challenge Archives". Brief History of Fletcher Challenge Limited.
  3. Pinney, Robert. "Le Cren, Frederic and Le Cren, Henry John". Dictionary of New Zealand Biography . Ministry for Culture and Heritage . Retrieved 16 August 2015.
  4. "PGG Wrigthson" (PDF). Archived from the original (PDF) on 15 August 2013.
  5. "Pyne's reverse takeover lifts stake in Reid Farmers - sharechat.co.nz". www.sharechat.co.nz. Retrieved 29 December 2020.
  6. "Heartland NZ repays NZ$92.3 million of PGG Wrightson Finance bonds after acquisition of rural lender". interest.co.nz. 10 October 2011.
  7. "PGG Wrightson to sell seeds division for $421m". stuff.co.nz. 6 August 2018.
  8. Hutching, Gerard (21 December 2018). "Agria found guilty of fraudulent accounting by US Stock Exchange commission".
  9. "Former PGG Wrightson boss gets $3m golden handshake". The New Zealand Herald . 27 September 2011.
  10. "George Gould departure as PGW head flagged".
  11. "PGG Wrightson chairman steps down".