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New Zealand meat producer From Wikipedia, the free encyclopedia
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 |
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]
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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] |
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