UK meat company Bernard Matthews Holdings would like control of Richmond Ltd, New Zealand's biggest publicly traded meat processor, to supply its growing said, IndustrySearch reported. North Meats, Bernard Matthews' local unit, offered as much as $NZ 3.24 a share, or $NZ 80 million for 60 per cent of Richmond. Its offer matches a rival bid by Primary Producers Cooperation Society, one of New Zealand's largest meat processors. Richmond stock rose as much as 9 per cent to a record $NZ 3.11 on the news. "We have got growing demand," Norman McRae, a director of Invercargill-based North Meats said. "We need more supply from New Zealand. We are not looking for domination, we are looking for partnership." Richmond sells lamb to Bernard Matthews, the UK's largest turkey producer, through the UK company's Waipukurau subsidiary Advanced Foods of New Zealand. Source: IndustrySearch
