NZPM Co-operative Limited (NZPM) is a co-operative which was formed in 1964 by a group of Master Plumbers. The objective of the co-operative was to establish a merchant chain throughout New Zealand with strong goals to improve the profitability, quality of service and products to its plumber shareholders. NZPM has seen significant growth and evolution over the past 60 years of business with annual turnover in excess of $290 million and over 1,000 shareholders. NZPM’s focus is firmly on the dual goals of sustainably growing their members’ and customers’ business and improving the financial and operating performance of the co-operative. In 2021 they won the Co-operative Business of the Year Award in recognition of their strong co-operative ethos.

Businesses:

Plumbing World

With 57 branches nationwide, Plumbing World has grown to become the largest 100% New Zealand owned national plumbing merchant. They supply everything from basic trade products to top fashion bathroom fittings to installers and end users with the right product for every job - whether it be a basic renovation or a new home build. With over 30,000 products in stock and access to a huge range of quality products, from all over the world, Plumbing World trade customers are assured of reliable supply and fast, efficient service at a very competitive price.

Metrix

Metrix is a leading importer and distributor of European bathroomware for the New Zealand market. Metrix has a singular focus on representing specialist manufacturers who share their commitment to creating inspirational bathroom spaces using extraordinary products.

Strategy:

NZPM are proud to serve their members by delivering sustainable shareholder value to them both as shareholders and as customers. Their people are their single most important contributor to their success by working together to support each other, their members, their customers and their suppliers. They have a strong focus to deliver sustainable business growth and performance, increase their ordinary shareholder membership and developing their social responsibility initiatives. Their journey to employ innovative technology strives to improve operational outcomes, lower costs and create a frictionless customer experience that enables them to further diversify and strengthen the co-operative. Their strategy is to have a mix of locally sourced market leading branded products and a strong exclusive and own brands programme which offer superior design and performance at very competitive pricing.

Shareholders:

NZPM issues two classes of shares which make up the bulk of NZPM’s funding alongside bank facilities provided by Westpac New Zealand Limited. Their Ordinary Shares are available to certain trades and earn a return through Co-operative Dividends based on the shareholders’ trading activity with Plumbing World.

Investment Opportunity:

Their Redeemable Preference Shares are a standalone retail investment share available to all investors and are available on Syndex. The full terms of issue are set out in the Product Disclosure Statement available in the Documents section and on the Disclose Register. These shares earn a fixed dividend return, paid quarterly. Shares are issued monthly and redemptions are considered by the company each quarter (ending February, May, August and November). The terms of issue for Redeemable Preference Shares are set out in the Product Disclosure Statement for Redeemable Preference Shares by NZPM Co-Operative Limited To Non-Transacting Shareholders. The current dividend rates are posted on their website. NZPM offers fixed returns for quarterly, two-year, three -year and four-year commitments.

Current rates:

• Quarterly fixed dividend period 5.60%
• Two year fixed dividend period 5.75%
• Three year fixed dividend period 5.75%
• Four year fixed dividend period 5.75%

This is a unique offer to invest in an established NZ owned co-operative operating recognisable and successful brands such as Plumbing World and Metrix. With a proud history over 60 years, NZPM has proven ability to survive and thrive through the cycles. With its mix of key strategic sites, a portfolio of brands and focus on cost management and optimising product mix, NZPM is well positioned now and into the future. Register your interest below.