By IRENE CHAPPLE
Rural retailer Farmlands Trading Society is heading north after signing a deal to buy Betta Farm Supplies in Whangarei.
Farmlands chief executive John Newland said the family business, which has been in Whangarei for 15 years, would be rebranded and the new catchment area used to tout for
new members.
Farmlands at present has 16,500 members, and Newland has said a recent increase reflects dissatisfaction with industry monolith Fonterra.
Newland said Farmlands' northernmost stores were previously in Hamilton and the company had been wanting to head further up the island.
It also intended to set up stores between Auckland and Hamilton.
The deal with Betta Farm Supplies was for its stock, assets and goodwill, and cost less than $1 million.
The store, which has a strong customer base, would be used to try to achieve 400 more members within two years.
Brad Saxton, who grew up in Northland, will manage the store with help for the first two months from the previous owner, Colin Carton.
Farmlands, which was established in 1962 by farmers looking for cheaper access to farm supplies, now has turnover of more than $260 million.
It is ranked among New Zealand's top 100 companies.
The latest purchase will give it 29 stores throughout the North Island.
Members join by buying 10 $55 shares.
