Predecessor Wright Stephenson | ||
Industry Stock and Station Agency Fate merged into NMA Wright Stephenson Limited Successor NMA Wright Stephenson Holdings Limited Founded Dunedin, New Zealand (1861 (1861)) Founder John Wright and Robert Robertson | ||
Wright Stephenson was a stock and station agency founded in Dunedin New Zealand in 1861 that by 1972, just before it merged with NMA, had developed 27 stock and station branches throughout New Zealand with more than 100 further sub-branches and agencies to service farming areas throughout the country. It now forms a core part of the business known as PGG Wrightson.
Contents
Foundation
The business was begun in 1861 by partners John Wright and Robert Robertson. Robertson left in 1868 and was replaced by auctioneer John Stephenson. Ownership was switched to a public listed company in 1906.
Core business
On behalf of its farming clients Wright Stephenson handled the sale and auction of livestock, wool, land, grain and seed as well as provided services to meet a range of agricultural and pastoral requirements.
Pastoral banking service
Working capital and capital was provided to the farming industry together with advice on farm accounting, budgeting, taxation and estate planning.
Diversification
To dilute the seasonal and cyclical nature of their activities in the wool trade Wright Stephenson developed extensive interests held in:
Stock and station agencies acquired
1916
1920
1959
1961
Wrightson NMA
In 1972 Wright Stephenson merged with National Mortgage and Agency Company of New Zealand to form Wrightson NMA The holding company took the name NMA Wright Stephenson, it was to change that to Challenge Corporation in 1973, which subsequently merged with Fletcher Holdings in 1981 to form Fletcher Challenge.