Wilson Neill buys N.S.W. sea-food distributor
PA Dunedin The food and liquor trader, Wilson Neill, Ltd, is set to expand the Australian sea-food market with the purchase of a “substantial” equity interest in Poulos Bros (Holdings) Pty, Ltd.
Wilson Neill declined to quantify the investment or financial details about Poulos, a private company.
Poulos Bros (Holdings) Pty, Ltd, is the largest wholesaler and distributor of sea-food in New South Wales, and is one of the largest in Australia. The Sydney-based company owns and runs
seafood processing factories in Brisbane, Sydney, Wollongong, and Tasmania, and has substantial cool storage assets and distribution facilities in the Sydney area.
The chairman of directors of Wilson Neill, Mr Jim Valentine, said the fish operations owned or controlled by Poulos Bros were well positioned to catch, process and market a variety of prized seafood resources, including gem fish, royal red prawns, scallops, lobster, abalone, and deep-sea species such as orange roughy.
Wilson Neill had been
keen to increase its investment in the seafood industry both in New Zealand and abroad for some time.
“We view this opportunity for involvement in a large well-established Australian sea-food company as a very important step in the development and growth of our seafood department and Export Division complementing our New Zealand operations. It also further strengthens our investment in Australia.” Like Wilson Neill, Poulos Bros (Holdings) Pty, Ltd, is heavily involved in the export of
sea-food, and Mr Valentine said mutual benefits would arise through the economies of scale and from co-operation in marketing.
“We have had a long and mutually rewarding association with the Poulos group of companies and we believe the group can further strengthen its position in the Australian seafood business.” Wilson Neill has recently made another investment in the Australian marketplace through Queensland-based . food and liquor operation, Barwon Farmlands, Ltd.
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Press, 10 November 1986, Page 28
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305Wilson Neill buys N.S.W. sea-food distributor Press, 10 November 1986, Page 28
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