Brendan and Jo Lindsay are enjoying life more than ever after selling Sistema Plastics to a US company for $650 million in early 2017.
The sale of their business has enabled the affable couple to focus on their horse breeding passion, which they expanded by purchasing Cambridge Stud from Sir Paul Hogan early this year.
Brendan says he couldn’t be more excited about the future of the iconic stud and he’s making some big chances including securing some new stallions.
One big deal was buying the Southern Hemisphere breeding rights to Almanzor, a French stallion crowned European Champion in 2016.
Cambridge paid $9m for the half share and the triple 1 winner has been syndicated to stand in New Zealand for $30,000.
Mr Lindsay told NBR the purchase is a big boost not only for Cambridge but the New Zealand industry in general.
“In the space of a week we sold half of that horse down to local breeders. That’s a huge achievement and it shows there’s an awful lot of goodwill but also lot of investment into quality horses.”
Cambridge, world famous as the home of two of New Zealand’s greatest-ever Group One stallions – Sir Tristam and Zabeel – also stands Tavistock and leading second-crop sires Burgundy and Highly Recommended (Australia).
Mr Lindsay says Cambridge is a profitable business and he and Jo are re-investing the profits back into the business.
“Jo and I do everything together and we are fully engaged in it and having a lot of fun. We jumped on a plane and flew to France and bought [Almanzor]. It’s a really exciting time of our life.”
Meanwhile, Brendan keeps an eye on Sistema under its new ownership and is happy with the way it’s been tracking, despite its parent company going through some difficult times.
Sistema’s new owner, New York-listed Newell Brands, is restructuring after a tumultuous eight months.
The company, whose consumer products range from Sharpie markers to baby buggies to food packaging, is attempting to recover from a failed merger by shedding its weakest brands.
Sistema has not been earmarked for sale and Mr Lindsay says Newell has committed to investing in the business.
When the Lindsays sold Sistema they stipulated that the company’s manufacturing base had to remain in New Zealand with a 20-year lease and guaranteed employment for 700 staff within their existing employment conditions.
Sistema makes household plastic containers for food storage and now forms part of Newell’s Live segment, contributing about $150m in turnover.
Asked if he had any concerns about the direction Sistema was taking under its new ownership and new direction, he said he did not.
“Our son Cam still works at Sistema, so obviously I talk to the team a lot. They are finding their feet under a new structure and it's only been 12 months. But I think they’ve done exceptionally well with all that’s been going on in America.”
Photo: New Zealand Herald/newspix.co.nz