Wool Partners International Acquires WONZ
By Staff -- Home Textiles Today, 10/13/2008 12:00:00 AM
Christchurch, New Zealand —
Wool Partners International has entered into a Heads of Agreement with Wool Research Organisation of New Zealand Inc. to purchase the Wools of New Zealand group of companies.
Theresa Gattung, chair of the recently established Wool Partners Intl., said, "This acquisition is an important milestone for the company. It provides an international network of market relationships and capability which will assist Wool Partners International."
Wool Partners International is owned 50/50 by Wool Grower Holdings, a grower owned co-operative, and PGG Wrightson.
Wool Research Organisation of New Zealand chairman David Douglas noted, "The sale is a pleasing outcome to the 'caretaker' role that Wool Research has been performing over the last two years. Our objective of ensuring that the value of Wools of New Zealand was preserved for the benefit of the New Zealand wool sector is now being realized."
Wool Partners International will now comprise the former wool operations of PGG Wrightson and Allied Farmers; wool exporter Bloch and Behrens; and the Wools of New Zealand group. This combination, the company said, provides a full farm-to-market capability.
The change in ownership will have no immediate impact on staff, and the company said it will honor its existing brand license obligations and will maintain its presence at key trade shows, including Domotex and Surfaces.
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