Challenge Corporation
| Industry | Stock and Station Agency |
|---|---|
| Fate | merged into NMA Wright Stephenson Limited |
| Predecessor | Wright Stephenson |
| Successor | NMA Wright Stephenson Holdings Limited |
| Founded | Dunedin, New Zealand (1861) |
| Founder | John Wright and Robert Robertson |
| Defunct | 1972 |
| Headquarters | Dunedin until 1918 then Wellington, New Zealand |
|
Number of locations
|
100+ |
|
Area served
|
New Zealand, Australia |
|
Key people
|
W D Hunt J A Johnstone C U Plimmer R R Trotter |
Wright Stephenson was a founded in Dunedin New Zealand in 1861 that by 1972, just before it merged with NMA, had developed 27 stock and station branches throughout New Zealand with more than 100 further sub-branches and agencies to service farming areas throughout the country. It now forms a core part of the business known as PGG Wrightson.
The business was begun in 1861 by partners John Wright and Robert Robertson. Robertson left in 1868 and was replaced by auctioneer John Stephenson. Ownership was switched to a public listed company in 1906.
On behalf of its farming clients Wright Stephenson handled the sale and auction of livestock, wool, land, grain and seed as well as provided services to meet a range of agricultural and pastoral requirements.
Working capital and capital was provided to the farming industry together with advice on farm accounting, budgeting, taxation and estate planning.
To dilute the seasonal and cyclical nature of their activities in the wool trade Wright Stephenson developed extensive interests held in:
1916
1920
1959
1961
In 1972 Wright Stephenson merged with National Mortgage and Agency Company of New Zealand to form Wrightson NMA The holding company took the name NMA Wright Stephenson, it was to change that to Challenge Corporation in 1973, which subsequently merged with Fletcher Holdings in 1981 to form Fletcher Challenge.
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Wikipedia