PGG Wrightson has bought two New Zealand water businesses in a bid to strengthen its irrigation arm.
The rural services firm has bought Water Dynamics and Aquaspec from global firm Pentair.
PGG Wrightson chief executive Mark Dewdney said it saw water management as a key challenge and opportunity in agriculture and horticulture in the foreseeable future.
The new businesses complemented the company's existing irrigation business, which he said had been one of the company's highest-performing units in recent years.
"We're probably number one (or) number two in the market. Water Dynamics were number four probably in the market and so the opportunity to acquire the business gave us the ability to expand our own operation," Mr Dewdney said.
Water Dynamics and Aquaspec have 45 staff across branches in Auckland, Hastings, Christchurch and Cromwell, which PGG Wrightson said gave it irrigation operations in parts of the country it did not previously have a presence.
The purchase also broadened its reach into a number of new areas such as municipal and turf, and Aquaspec added a wholesale business with access to more international brands.
The deal is due to be completed at the end of next month.
