Ballance Agri-Nutrients is increasing its stake in the animal feed industry.
The co-operative has taken a majority shareholding in Seales Ltd in Morrinsville and Winslow Feeds & Nutrition in Ashburton, to form a new feed company called Seales Winslow.
It will add to Ballance's small feed business with Summit Quinphos.
Chief executive Larry Bilodeau says the company wants to provide farmers with complete animal nutrient needs, from pasture through to supplementary feed.
He says the purchase will give Ballance a 10% share of the animal feed business in New Zealand, and it would like to increase that to 20%-30%.
The new company will be based in Morrinsville.