PPCS wants bigger venison stake

Meat processing giant PPCS is planning to tighten its grip on the venison industry, today seeking approval to buy Venison Rotorua Ltd (VRL).

Competition watchdog the Commerce Commission said PPCS, which already owns 19.9 per cent of VRL, had applied for clearance to purchase the balance of the company's shares.

VRL was formerly known as Mair Venison which PPCS bought in 2001, an hour after NZ Deer Farms bought it from Richina Pacific.

In June 2001, PPCS sold Mair Venison to a consortium, retaining 19.9 per cent, apparently in a bid to satisfy the Commerce Commission.

PPCS presently controls up to 70 per cent of the national deer kill.

The commission said it would determine whether the proposed acquisition would substantially lessen competition in the New Zealand market.

- NZPA