ANZCO Foods

ANZCO Foods Limited
TypeSubsidiary
IndustryMeat production
Founded1984 in New Zealand
FounderGraeme Harrison
Headquarters
Christchurch
,
New Zealand
Area served
Worldwide (80 countries)[1]
ProductsBeef and lamb
RevenueIncrease $147.7 million [2] (2022)
OwnerItoham Foods
Number of employees
3,000[3]
Websiteanzcofoods.com

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.

History

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

ANZCO founder Graeme Harrison in 2017

Chairperson:[13][14]

  • Eddie Tonks (?–2004)[15]
  • Graeme Harrison (2004–2018)
  • Kazuhiko (Sam) Misonou (2018–present)

Chief executives:[6][14]

  • Graeme Harrison (1984–2004)[16]
  • Mark Clarkson
  • Peter Conley (2017–present)

Land holdings

ANZCO Foods holds land in ten locations in New Zealand.[17]

Land area (ha) Location Description
73.8Eltham, TaranakiAnzco Foods Eltham meat processing plant (previously known as Riverlands Eltham)[18]
6.9Waitara, TaranakiANZCO Foods Waitara (previously Waitara freezing works) where meat patties for McDonald's (New Zealand and Pacific Islands) are produced[19][20]
203.9Bulls, Rangitikei DistrictANZCO Foods Manawatu meat works
227.6Christy's Road, Canterburyfarming
602.8Seaside Road, Wakanui, CanterburyFive Star Beef feedlot
361.4Seafield Road, Canterburyfarming
24.6Riverlands, Blenheim, MarlboroughWestmeat Blenheim[21]
5.3Seafield, CanterburyANZCO Foods Canterbury (former Fortex Ashburton slaughter plant)[22]
0.5Green Island, Dunedin, OtagoManufacturing of burgers[12]
141.5Kokiri, WestlandANZCO Foods Kokiri, meat processing plant[23]

References

  1. ↑ "Anzco Foods". planview.com. Retrieved 22 January 2024.
  2. ↑ RNZ (11 May 2023). "ANZCO Foods reports $147m profit". The New Zealand Herald. Retrieved 22 January 2024.
  3. ↑ Schröter Technologie. "ON THE ROAD TO SUCCESS ACROSS THE GLOBE WITH BEEF JERKY". schroeter-technologie.de. Retrieved 22 January 2024.
  4. ↑ "Asian New Zealand Meat Company Limited (233178) Removed". Companies Office. Retrieved 30 June 2020.
  5. 1 2 3 Cronshaw, Tim (29 May 2015). "Larger Japanese stake in Anzco gains OIO approval". Stuff. Retrieved 23 May 2020.
  6. 1 2 3 "Retiring meat industry leader goes farming". Stuff. 10 January 2018. Retrieved 23 May 2020.
  7. ↑ Peden, Robert (24 November 2008). "Five Star feed lot". Te Ara: The Encyclopedia of New Zealand. Retrieved 23 May 2020.
  8. ↑ "Anzco Foods Ltd". Bloomberg News. Retrieved 23 May 2020.
  9. ↑ "ANZCO share sale bid". Otago Daily Times. 2 March 2015. Retrieved 23 May 2020.
  10. ↑ "Case 201510023 – Itoham Foods Inc". Land Information New Zealand. 13 April 2015. Retrieved 23 May 2020.
  11. ↑ Boot, Sophie (19 December 2017). "Japan's Itoham Yonekyu buys remaining share of Anzco Foods". National Business Review. Retrieved 23 May 2020.
  12. 1 2 Rae, Sally (16 January 2018). "Single owner for Anzco". Otago Daily Times. Retrieved 23 May 2020.
  13. ↑ Pickett, Brittany (8 February 2018). "Anzco chairman named to replace Sir Graeme Harrison". Stuff. Retrieved 23 May 2020.
  14. 1 2 "Our Executive Leadership team". ANZCO Foods. Retrieved 23 May 2020.
  15. ↑ "Food pioneer made a knight". The New Zealand Herald. 5 June 2011. Retrieved 24 May 2020.
  16. ↑ "Graduation Programme". Lincoln University. 2012. p. 34. Retrieved 29 July 2020.
  17. ↑ "Case 201710119 – Itoham Foods Inc". Land Information New Zealand. 12 December 2017. Retrieved 23 May 2020.
  18. ↑ Keith, Leighton (19 December 2019). "Inquiries being made into death at Taranaki meatworks". Stuff. Retrieved 23 May 2020.
  19. ↑ Mitchell, Stephanie (25 April 2019). "Made in Taranaki: The production line for McDonalds meat patties starts in Taranaki". Stuff. Retrieved 23 May 2020.
  20. ↑ 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.
  21. ↑ Gooch, Carly (5 December 2019). "Westmeat Richmond sells to Raeward Fresh". Stuff. Retrieved 23 May 2020.
  22. ↑ Hutching, Chris (26 September 2017). "Fortex boss spills beans about jail and return to business". Stuff. Retrieved 23 May 2020.
  23. ↑ "ANZCO Foods Kokiri". ANZCO Foods. Retrieved 23 May 2020.
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