Tru-Test expands European market
Sep 21 2010 - Owen Hembry, NZ Herald
Electric fence company Tru-Test Group has bought two UK firms, boosting its annual turnover to more than $100 million.
Tru-Test, whose business also includes livestock scales and milk metering equipment, yesterday said it had bought the business and assets of Ritchey and the shares of Fearing.
Ritchey specialises in making ear tags and animal identification products, while Fearing promotes and supplies products to farmers in the UK and Ireland through online and catalogue sales.
New Zealand-based Tru-Test's managing director Greg Muir said the purchase was a growth opportunity for the UK, European and international markets.
"The two companies closely align to our own core business areas and by combining the experience and expertise of all three businesses, we believe we will see significant growth both in the UK and Europe as well as internationally," Muir said.
The acquisitions would allow Tru-Test to better serve UK and continental Europe customers, the company said. Tru-Test had, until now, operated in Europe solely through distribution companies and with the purchase annual turnover would surpass $100 million.
Tru-Test said it had a 15-year relationship with UK-listed Animalcare Group, which had owned both businesses, while Ritchey and Fearing had a track record as distributors for the company. The relationship was an important aspect in the purchase decision, Muir said.
Tru-Test's brands included Pel, Stafix, Speedrite, Patriot and Hayes.