$600m loss last time – what’s different now?

Does this sound familiar?

The group believes the [meat] industry is at a unique turning point in its history and that there will be profitable opportunities for those companies which can adjust to the new realities of adding value through processing, new technology and marketing…

It could come from those promoting PGG Wrightson’s bid to buy 50% of Silver Fern Farms. But I found it in the book Rural Challenge, A History of Wrightson Limited.

It’s a quote from Fletcher Challenge’s 1985 annual report. By the time the company got out of the meat industry a few years later it had cost them around $600 million.

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