Australian acquisition helps Wrightson grow seeds business

PGG Wrightson has added to its 75-year-old seeds business in Australia with the acquisition of Keith Seeds.

No price for the transaction, effective November 22, was given in Wrightson's statement to the NZX. South Australia-based Keith Seeds produces pasture and oil seeds, a variety of legumes and even birdseed. It exports to South America, the Middle East, Europe, Asia, and North America.

The purchase "will build on our existing presence in South Australia, and bring further technical and logistical capability that will complement our other operations," said John McKenzie, group GM of Wrightson's AgriTech Division.

The purchase follows Wrightson's acquisition in New Zealand of the Corson Grain maize seed business.

Shares of Wrightson fell 2.1% to 47 cents.

BusinessDesk.co.nz

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