Carrfields full rural services launched

A family business that started out making hay bales is about to formally become Carrfields, a rural services company doing more than $200 million in annual turnover and employing hundreds.

The Carr family from Mid Canterbury has bought full or partial stakes in several rural businesses in the past couple of years, taking Carrfields from a big regional firm to one with international goals.

The agri-tech group is busy in Asia but also in booming, more exotic, markets like China-backed Ethiopia.

Back home, Carrfields has most obviously stamped itself as a force in rural business with the purchase of stock and station company Elders NZ, which was previously in a joint venture with Elders in Australia.

Carr Group acquired Elders Rural Services New Zealand (Elders) for an undisclosed amount from Elders Australia Limited and New Zealand based Sredle Rural Services, headed by agribusinessman Stu Chapman.

The Carrs took note of reports that Elders Australia was under financial strain and did a deal for the Elders New Zealand assets in August last year.

Managing director Craig Carr said the family saw the acquisition as a chance to be ‘‘a national player with a global business’’.

The purchase adds to an array of operations including Canterbury Seeds, an irrigation equipment company, car and tractor dealerships, a carpet retail joint venture and distribution rights to sell automated milking machines. Carrfields also has a growing property portfolio.

The Elders acquisition has lifted the total staff to 450, which is parly why the owners have decided to represent under the Carrfields name.

The new brand would emphasise the family’s determination to be hands-on managers. Customers seemed to appreciate that they were a New Zealand family-owned stock and station company – and that they worked as hard as employees, Carr said.

He and his three siblings watched parents Greg and Glenys routinely work 20 hours days when they were younger. The kids were expected to pitch in when- ever needed.

Craig, the eldest son at 37, now spends about two thirds of his working life travelling around New Zealand and overseas for Carrfields. Brothers Ryan, Greg and James and sister Stacey, all in their 30s, also have major roles in the business.

‘‘There is a culture of hard work within the organisation. People recognise that the hours might be longer or across weekends but accept it’s part of being in the group. One of the reasons for this is that they see the family working the hardest of all.’’

In keeping with the family ethos, the company had no designated ‘‘head office’’. Operations were centralised in Ashburton because the business had started there, but Carr said if he was popping into Feilding for the day then Feilding was head office to him.

The company’s growth had been fast in the past 18 months, with turnover rising from about $120m to more than $200m and close to $250m at times. The trade statistic bounced around depending on the usual ups and downs in farm profitability but it was probably realistic for the company to aim for turnover of $500m five years from now, Carr said.

Most of the company’s recent growth had been by acquisition and there were still opportunities to buy businesses and make them stronger, he said.