New wool company merger endeavours to offer the world to growers
Michell Wool chairman David Michell will serve as chairman of the newly merged company. Picture by Agrishots and supplied One of the country's oldest wool companies and one of the youngest have announced. . .
Michell Wool chairman David Michell will serve as chairman of the newly merged company. Picture by Agrishots and suppliedOne of the country's oldest wool companies and one of the youngest have announced their intention to merge, in what's being hailed as a boon for local producers. Subscribe now for unlimited accessto all our agricultural newsacross the nationor signup to continue readingAll articles from our website& appThe digital version ofThis Week'sPaperOur entirenetworkThe new entity, to be known as Michell Endeavour, brings together the direct buying and broking operations of Michell Wool and Endeavour Wool Exports and aims to offer a united approach to marketing wool for growers nationwide. Michell Wool chairman David Michell will serve as the company's chairman, while its directors include Endeavour founders Josh Lamb and Stuart Greenshields and Michell Wool managing director/CEO Andrew Luxton. Agribusiness executive Greg Pearce has been named general manager of Michell Endeavour. While both Michell Wool and Endeavour Wool Exports will continue their existing trading, processing and export operations independently, Mr Michell described Michell Endeavour as "an unmatched offering, unveiled at a time when the Australian wool industry needs it most". "Michell Endeavour represents the finest of the old and the best of the new - bringing together the 156-year history of Adelaide-based Michell Wool and Melbourne-based Endeavour Wool Exports' standing as a young, innovative company that, since its 2017 establishment, has been the industry's fastest growing company," he said. "This gives growers direct access to international markets to help maximise their returns in conjunction with the latest market information. "Mr Lamb welcomed the ability to bring an enhanced value chain to growers. "It starts with extensive traceable sourcing options, moving through Australian-based processing or greasy export contracts and concluding with direct access to international customers and brands," he said. Mr Pearce added that in further developing relationships with growers, regional communities and others in the wool industry, Michell Endeavour will strengthen the sector's standing as a vital and sustainable facet of Australian agriculture. "There's comfort in knowing Michell Endeavour will deliver, today, tomorrow and into the future," he said. "That's great news for all, not least our employees, who will have enhanced job security and opportunities to grow their skills, boost their career and, being in greater demand, enjoy even more rewarding futures. "The transaction remains subject to satisfaction of typical conditions (including shareholder and regulatory approvals) and is anticipated to complete towards the end of September. As it happensBreaking news alertBe the first to know when news breaks.