Summary
ANZCO Foods or simply ANZCO (formally ANZCO Foods Ltd and previously the Asian New Zealand Meat Company Limited) is a New Zealand meat producer fully owned by the Japanese company Itoham Foods, which in turn is part of Itoham Yonekyu Holdings. In 2016, ANZCO Foods was New Zealand's fifth-largest exporter, with a turnover of NZ$1.5b, and 3,000 employees.
 | |
| Company type | Subsidiary |
|---|---|
| Industry | Meat production |
| Founded | 1984 in New Zealand |
| Founder | Graeme Harrison |
| Headquarters | , New Zealand |
Area served | Worldwide (80 countries)[1] |
| Products | Beef and lamb |
| Revenue |  $147.7 million [2] (2022) |
| Owner | Itoham Foods |
Number of employees | 3,000[3] |
| Website | anzcofoods |
History edit
ANZCO started as a company in 1984 under the legal name Asian New Zealand Meat Company Limited[4] owned through the New Zealand Meat Producers Board by individual farmers and led by Graeme Harrison.[5] In 1989, Itoham Foods and ANZCO formed a 50–50 partnership and founded Five Star Beef, a company that operates a feedlot in Wakanui near Ashburton; this is New Zealand's largest feedlot and mainly exports to Japan.[6][7] In 1995, the ANZCO management team led a buy-out of the company from the Meat Producers Board, with Itoham Foods taking a 48.3% minority shareholding and another Japanese company, Nissui (Nippon Suisan Kaisha Ltd), taking a smaller shareholding.[6] Through that buy-out, the initial investment of NZ$350,000 returned over NZ$40m to the original owners.[5] ANZCO Foods started operating under the new ownership arrangement on 17 August 1995.[8]
In 2015, founder Harrison announced that he intended to retire in the near future. This was accompanied by a restructure in shareholding. With approval from the Overseas Investment Office (OIO),[5] Itoham Foods increased its shareholding from 48.3% to 65% and paid just over NZ$40m for these transactions. The seven smallest shareholders were all offered to sell. Harrison himself sold down from just over 20% to 14%. Nissui sold part of its stake at this point (which made up just over 50% of the share transfer) with the balance coming from New Zealand shareholders.[9][10]
In late 2017, Itoham Foods received OIO approval to become to sole owner by obtaining the remaining 35% shareholding. Nissui held 16.8% at that point, and Harrison and other managers held 18.2%. Itoham Foods is a subsidiary to Itoham Yonekyu Holdings. Itoham is publicly listed and 39% owned by the Mitsubishi Corporation. Harrison retired from the company after the March 2018 annual general meeting; he had been at the helm of the company for 34 years, first as managing director and then as chairperson.[11][12]
Governance edit
- Eddie Tonks (?–2004)[15]
- Graeme Harrison (2004–2018)
- Kazuhiko (Sam) Misonou (2018–present)
- Graeme Harrison (1984–2004)[16]
- Mark Clarkson
- Peter Conley (2017–present)
Land holdings edit
ANZCO Foods holds land in ten locations in New Zealand.[17]
| Land area (ha) | Location | Description |
|---|---|---|
| 73.8 | Eltham, Taranaki | Anzco Foods Eltham meat processing plant (previously known as Riverlands Eltham)[18] |
| 6.9 | Waitara, Taranaki | ANZCO Foods Waitara (previously Waitara freezing works) where meat patties for McDonald's (New Zealand and Pacific Islands) are produced[19][20] |
| 203.9 | Bulls, Rangitikei District | ANZCO Foods Manawatu meat works |
| 227.6 | Christy's Road, Canterbury | farming |
| 602.8 | Seaside Road, Wakanui, Canterbury | Five Star Beef feedlot |
| 361.4 | Seafield Road, Canterbury | farming |
| 24.6 | Riverlands, Blenheim, Marlborough | Westmeat Blenheim[21] |
| 5.3 | Seafield, Canterbury | ANZCO Foods Canterbury (former Fortex Ashburton slaughter plant)[22] |
| 0.5 | Green Island, Dunedin, Otago | Manufacturing of burgers[12] |
| 141.5 | Kokiri, Westland | ANZCO Foods Kokiri, meat processing plant[23] |
References edit
- ^ "Anzco Foods". planview.com. Retrieved 22 January 2024.
- ^ RNZ (11 May 2023). "ANZCO Foods reports $147m profit". NZ Herald. Retrieved 22 January 2024.
- ^ Schröter Technologie. "ON THE ROAD TO SUCCESS ACROSS THE GLOBE WITH BEEF JERKY". schroeter-technologie.de. Retrieved 22 January 2024.
- ^ "Asian New Zealand Meat Company Limited (233178) Removed". Companies Office. Retrieved 30 June 2020.
- ^ a b c Cronshaw, Tim (29 May 2015). "Larger Japanese stake in Anzco gains OIO approval". Stuff. Retrieved 23 May 2020.
- ^ a b c "Retiring meat industry leader goes farming". Stuff. 10 January 2018. Retrieved 23 May 2020.
- ^ Peden, Robert (24 November 2008). "Five Star feed lot". Te Ara: The Encyclopedia of New Zealand. Retrieved 23 May 2020.
- ^ "Anzco Foods Ltd". Bloomberg News. Retrieved 23 May 2020.
- ^ "ANZCO share sale bid". Otago Daily Times. 2 March 2015. Retrieved 23 May 2020.
- ^ "Case 201510023 – Itoham Foods Inc". Land Information New Zealand. 13 April 2015. Retrieved 23 May 2020.
- ^ Boot, Sophie (19 December 2017). "Japan's Itoham Yonekyu buys remaining share of Anzco Foods". National Business Review. Retrieved 23 May 2020.
- ^ a b Rae, Sally (16 January 2018). "Single owner for Anzco". Otago Daily Times. Retrieved 23 May 2020.
- ^ Pickett, Brittany (8 February 2018). "Anzco chairman named to replace Sir Graeme Harrison". Stuff. Retrieved 23 May 2020.
- ^ a b "Our Executive Leadership team". ANZCO Foods. Retrieved 23 May 2020.
- ^ "Food pioneer made a knight". The New Zealand Herald. 5 June 2011. Retrieved 24 May 2020.
- ^ "Graduation Programme". Lincoln University. 2012. p. 34. Retrieved 29 July 2020.
- ^ "Case 201710119 – Itoham Foods Inc". Land Information New Zealand. 12 December 2017. Retrieved 23 May 2020.
- ^ Keith, Leighton (19 December 2019). "Inquiries being made into death at Taranaki meatworks". Stuff. Retrieved 23 May 2020.
- ^ Mitchell, Stephanie (25 April 2019). "Made in Taranaki: The production line for McDonalds meat patties starts in Taranaki". Stuff. Retrieved 23 May 2020.
- ^ Coster, Deena (21 October 2017). "Looking back: 20 years since Waitara lost its 'life blood' with the freezing works closure". Stuff. Retrieved 23 May 2020.
- ^ Gooch, Carly (5 December 2019). "Westmeat Richmond sells to Raeward Fresh". Stuff. Retrieved 23 May 2020.
- ^ Hutching, Chris (26 September 2017). "Fortex boss spills beans about jail and return to business". Stuff. Retrieved 23 May 2020.
- ^ "ANZCO Foods Kokiri". ANZCO Foods. Retrieved 23 May 2020.