South Island based Carr Group have acquired Elders Rural Services New Zealand (Elders) for an undisclosed amount from Elders Australia and New Zealand based Sredle rural services.
Carr Group managing director, Craig Carr says the opportunity to return Elders to Kiwi ownership was exciting for both companies.
“It will be business as usual and as we settle in we will look for synergies between both businesses to ensure we achieve efficiencies” says Carr.
“Bringing together two agri-businesses under one 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 more than 400 staff in New Zealand, Australia, India, Africa and the Middle East, this acquisition will take combined group annual revenues to in excess of NZ $300 million”.
Carr Group was started more than 40 years ago in Ashburton, and founders Greg and Glenys Carr are still active in the business along with their three sons and daughter.
“The investment by the Carr Group is a strong endorsement of the Elders business in New Zealand” said Elders New Zealand managing director Stuart Chapman.
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 Chapman with no immediate plans to change either business.
