By ELLEN READ
Former Bendon boss Hugo Venter has changed his focus, but the passion and drive remain intact.
After several months of due diligence and paper shuffling, Venter has gone public with his new business venture, ownership of Arthur Ellis, one of New Zealand's oldest companies.
"After Bendon, I never wanted
to work for anyone else again. It was important for me to have emotional and financial ownership," he said.
Established in Dunedin 125 years ago, the business owns or manages well-known brands such as Fairydown Bedware, Fairydown Adventure, Columbia Sportswear and Great Outdoors.
It provided the Fairydown sleeping bag used by Sir Edmund Hillary on the first ascent of Mt Everest in 1953.
Venter, who left Bendon in April after an unsuccessful management buyout bid, has bought a 40 per cent stake in Arthur Ellis with the rest being owned by AMP Henderson Private Capital Fund.
Venter's plans include streamlining and modernising the company, re-establishing its brand position and increasing the focus on the export market for all brands.
"New Zealand is such a good flavour overseas at the moment and we really must make the most of it," Venter said.
"We make some very good things here but we also manage to keep them a very good secret. We have to be more visible."
He is giving himself 3 to 5 years in which to double the company's $50 million annual turnover and prepare it for listing.
"I think if I haven't managed to fix it in five years, it's unlikely I will. Plus, I'm a very impatient person," Venter said.
He said New Zealand had an excellent tourism market and a strong environmental all-seasons international reputation, so there were real benefits in taking our brands to the world.
"The current business provides a very good platform from which to grow the company and we have enough funding for the expansion of existing brands and the purchase of strategic acquisitions," Venter said.
He would not be drawn on possible targets but said they would not be limited to New Zealand purchases.
Arthur Ellis employs 130 people, has offices in Auckland, Sydney and Christchurch, and manufactures locally and overseas.
New Zealand accounts for 70 per cent of sales.
The Fairydown sleeping bag used by Sir Edmund Hillary will be part of an Auckland Museum exhibition next year celebrating the 50th anniversary of the first ascent.
