Shareholders of the Macadamia Processing Company (MPC) have voted overwhelmingly in favour of acquiring the remaining shares in Pacific Gold Macadamias (PGM).
MPC already had a 37 per cent stake in the Bundaberg processor, and it’s latest acquisition will consolidate the Lismore-based co-operative as the largest macadamia processor in the world.
Larry McHugh, the chief executive officer of MPC, assured that there is no concern that the acquisition would lessen competition in the industry, and that their new found size would allow the co-operative to influence the world market to insure that prices remain stable.