After a long-running battle, New Zealand meat company PPCS has finally regained a majority stake in rival Richmond and has now said it aims to improve Richmond’s performance.
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PPCS now holds a 62.9% stake in Richmond and has had its voting rights reinstated by an appeal court after they were lost in an earlier High Court ruling, reported the New Zealand Press Association.
PPCS chief executive Stewart Barnett said the Richmond brand was valuable but that he would introduce some changes to the way the business was run.
“We’ve got views on some offshore marketing initiatives which could improve returns… There’s also how we do things on plant processing, how we negotiate consumables and logistics etc,” Barnett was quoted by NZPA as saying.
“As an example, the two companies negotiate freight, purchases of packaging – if we consolidate that we get economies of scale, and hopefully improved supply chain management for our offshore markets.”
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