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Article: SFF deal folds by default; PGG WRIGHTSON
- Article from:
- The Press
- Article date:
- November 4, 2008
- Author:
CopyrightCopyright 2008 The Press. Provided by ProQuest LLC. (Hide copyright information)
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Silver Fern Farms (SFF) has terminated a partnership agreement
with Christchurch's PGG Wrightson (PGGW).
The Dunedin farmer- supplier cooperative, formerly PPCS, made the
exit yesterday after the failure of rural services firm PGGW to make
a first payment toward the deal - hit by the credit crunch. However,
the two parties remain in talks about a new deal.
SFF has also floated the idea that rival Alliance Group and/or
other meat processors might again be willing to examine how industry
aggregation can be achieved. Alliance had previously expressed
reservations about becoming part of a mega meat company based on a
hybrid model brought about by a merger of the listed PGGW and the
cooperative ...