31 Jul 2008

PGG increases stake in Uruguay

6:09 am on 31 July 2008

PGG Wrightson has taken a 51% stake in an animal health business in Uruguay - a move that it says will boost profit in its South American operations by 15%.

The rural supplies business says the stake in Veterinaria Lasplaces adds to the farm, real estate and livestock businesses that PGG has in Uruguay, strengthening its strategic position in South America.

Veterinaria Lasplaces has eight stores and 45 staff, concentrated in the south of Uruguay.

No price has been disclosed.