Wellard is a world leader in the production and distribution of livestock and grain. Its two largest subsidiaries are Wellard Rural Exports, Australia's largest livestock exporter and ship owner, and Giovi, formerly Wellard Agri, a large mixed farming land owner and operator specialising in the production of grains, legumes and livestock.
Wellard listed on the ASX at the end of 2015, but almost immediately ran into trouble relating to its forecasts and subsequent profit downgrades.
In September 2016, China-based textile company Fulida was announced to become the agribusiness’s second-largest shareholder with a 16.5 per cent interest it had agreed to purchase from the majority shareholder of Wellard, interests associated with chief executive Mauro Balzarini whose Italy-based family had founded the company, in order to restructure the financial affairs of the private holding company.
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