Abco has acquired a majority shareholding in New Zealand’s Proquip, the company has announced, marking its expansion into the New Zealand market.
Proquip has been a major player in New Zealand’s cleaning supply industry for more than 40 years, with facilities in Auckland, Wellington and Christchurch.
Kerry Boon, managing director of Proquip, described the acquisition as a significant milestone in the company’s history.
“This acquisition by Abco marks an exciting chapter for Proquip,” Boon said.
“Over the years, we have grown from our origins as a brushware supplier to becoming a market leader in cleaning supplies. With Abco’s resources and expertise, we are set to introduce new products, services, and innovations while maintaining the high level of service our customers have come to expect.”
Abco has recently been expanding its operations across Australia, but this marks its first venture across the Tasman. James Bagshaw, managing director of Abco, expressed his excitement about the new partnership, highlighting the synergy between the two companies.
“We are thrilled to extend our operations into New Zealand through this partnership with Proquip,” Bagshaw said.
“This expansion aligns with our strategy to grow our market presence while complementing Proquip’s strong reputation.”
Abco said capitalising on Proquip’s well-established market presence and expertise will allow both companies to generate significant growth opportunities. Boon also highlighted the potential benefits for Proquip’s customers, given the broader range of products and services that will now be available.
“We are confident this partnership will bring about positive changes for our customers,” Boon said.
“Abco’s cutting-edge technology and logistics capabilities will allow us to offer even more comprehensive solutions, further strengthening our position in the market.”
Bagshaw describing the Proquip deal as “just the beginning.” Abco has set ambitious growth targets, he said, and envisions further expansion as part of its long-term plans.
