New Zealand’s farm services group, PGG Wrightson (PGW) is continuing its recent spate of acquisitions with the purchase of Australian seed company, Grainland Moree, for an undisclosed amount.

 

This marks the third purchase in less than a month for Wrightson, which states that the acquisition of Grainland gives it “state-wide coverage of the grains industry” in New South Wales – the second ranked grain producing state in Australia.

 

This recent flurry of deals for PGW is evidence of a sea-change from the group’s strategy of austerity throughout the years since the global financial crisis struck, which because of a previous spree of acquisitions left the group particularly vulnerable.

 

This shift is reinforced by Alan Lai, chairman of both Agria and PGW, who commented that the Grainland deal “represents another step in Agria and PGW’s collective efforts to execute on a global growth strategy… and further internationalize our operations.”

 

The Grainland deal comes just weeks after PGW purchased a New Zealand-based turf irrigation company from Advanced Irrigation Systems, and acquired a 50% stake in Uruguayan rural services company, Agrocentro Uruguay – a deal which has been  noted by the group as a move “to expand Agria’s global footprint in high-growth markets such as South America.”

 

To further support the group’s expansionary vision, PGW also appointed former JP Morgan adviser on Middle Eastern and African deals, Brent de Jong, as an executive director. Mr. de Jong’s experience with mergers and acquisitions in emerging markets will help PGW leverage future opportunities for expansion.