Tru-Test Group, New Zealand’s world leading manufacturer of electric fencing systems, milk metering and animal weighing systems is investing heavily in Brazil in the next step on its international growth path.
The company announced this week the purchase of a majority shareholding in its Brazilian distributor Farm Tech. Farm Tech, a leading Brazilian supplier of agricultural products, has been Tru-Test’s distributor in Brazil for the past 16 years. Tru-Test Group Chief Executive Greg Muir said the move was an important step in the company’s global growth strategy.
“It’s not hard to see why we are excited about the opportunities for our stock management and electric fence offerings in that part of the world,” Muir said.
“Brazil is already the world’s largest exporter of beef and the 5th largest producer of milk. Global investment in Brazilian agriculture is driving up land prices and accelerating the trend toward more efficient utilisation of pastures. The electric fence market there is growing rapidly on the back of this efficiency drive, but it is also a very protected market where local Brazilian companies dominate,” says Muir.
“Tru-Test Group is one of the very few New Zealand agri-tech companies that have been able to establish a significant presence in the market. This acquisition will allow us to better leverage our position there”.
Last year, Tru-Test Group announced a major expansion in Europe, with the purchase of two leading agricultural product distributors, and is now represented throughout North America, Latin America, the UK, Australia and New Zealand.
Additionally, Tru-Test Group was recently named the HSBC Best Importer/Exporter with China at the NZCTA (New Zealand – China Trade Association) Awards in Auckland. The award recognizes the 315% business growth achieved by Tru-Test Group in China over the last two years through sales of milk meters, electric fencing and scales for live animal weighing.