Agribusiness - $210 million
Agriculture and commercial property investors Glen and Joanne Inger tend to keep a low profile rather than talk about their business and philanthropic activities.
Public records indicate the past 12 months have been relatively quiet for the couple, with no new developments coming out of their various horticultural or property-based interests.
Their most recent venture flew under the radar at first.
They were involved in an initiative in 2022 that brought together three of the country’s biggest avocado growers to help streamline marketing and the management of orchards.
The Ingers, who are involved in the avocado business through their 50% stake in Harbour Edge avocados, took a similar-sized shareholding in New Zealand Avocado Collective in April 2022, alongside Singaporean registered Vulpes Agricultural Land Investment Company.
NZAC brought together King Avocado Orchard (which was founded by former NBR Lister Terry Jarvis); Largus and Mapua & Tiri Orchards (which were owned by interests associated with Jeremy Noble, Murray Forlong, and the Finnerty Family), and Harbour Edge Avocados.
Its chief executive, Jarrod Redwood, told Fruitnet in 2022 that the collective created the country’s largest vertically integrated avocado grower/marketer, with combined production covering 1000 hectares in the far north.
“NZAC was born out of a desire to streamline the efficiencies with which we grow and market New Zealand avocados to deliver higher quality, more consistent, ‘single source’ avocados to New Zealand and export markets,” he said.
The Ingers have nearly 40,000 trees planted on half of the 400ha old farmland the Ingers sold in 2015 for $8 million, buying into Harbour Edge avocados.
They expect Harbour Edge to export 90% of its produce by the 2026/2027 financial year.
The Ingers are involved in the mushroom industry in a major way and their $60m cash injection into the Mercer Mushrooms facility in Tuakau has been one of the couple’s largest ever investments.
A chunk of the money went into new growing rooms kitted out with the latest Dutch technology and automation, while the bigger investment went into a compost production facility, which was said to be only one of its kind in the country.
The company’s chief executive, Dave Hyland, told NBR in 2023 its facility near Tuakau, which reopened in August, was currently operating at 25% capacity while staff became acquainted with its new systems.
The new plant would have the capacity to produce 60 tonnes of mushroom a week, with plans to add another 30 tonnes in capacity in the next couple of years.
Hyland says it took about six years to get to the point where the new facility was operating and was the result of a lot of time and faith from the Ingers.
At first, the operation focused on growing white button mushrooms but has looked to include portobellos and Swiss browns.
Hyland was bullish on the company’s potential, citing both the fact it was one of the few produce items that can be grown year around as well as the current export opportunities in Southeast Asia.
Glen told NBR back in 2022 the family could have turned a better income if they had started with property development, but they were proud of the legacy and job creation that was associated with its endeavours in the agricultural sector.
Commercial property remains a part of the family’s portfolio, which includes the Kowhai Falls retail block in Warkworth and new builds for Northland’s tertiary education provider NorthTec.
The family’s property interests extend to Fiji, where they owned a resort on Toberua Island.
They also maintain an interest in the retail sector, as they were behind the bargain chain Crackerjack, which has 15 stores across the North Island.
The shops sell a range of goods, from pet supplies to furniture, all at competitive prices.
The Ingers’ agricultural interests also play into its charitable interests. “We’re behind the scenes, just supporting things that are appropriate,” Glen said in 2022.
In the past year, the family has been involved in saving Tapora golf course, which is near of one of their farms and functions as a hub for the rural community.
“It’s more of a community club as opposed to a golf club. And rural communities, they’re pretty tough sometimes, so they need to be able to gather for fish and chips on a Friday night and need to socialise. We’ve seen rural stress; I certainly saw a lot of it when I was on the Ravensdown board for 12 years,” Inger said.
The club has undergone a $500,000 upgrade to roll out the country’s first course with total artificial greens.
The New Zealand Herald reported that the club expects the upfront investment will pay for itself in five years through savings associated with reduced greenkeeper’s wages and lower operating expenses for specialist equipment.
Inger told the Herald: “Tapora Golf Club is now aiming to be a genuine playing option for those struggling to find tee times in city courses – whether they are looking to play a social round with friends, a competitive challenge on a full-length course, or are looking for a golf course with classic Kiwi rural feel to it.”
Since leaving The Warehouse more than a decade ago, the businessman has been busy with a stable of other investments jointly shared with his wife, Joanne.
Glen Inger has survived cancer after being first diagnosed in 2007. His condition worsened by 2012, and the seven-year fight with stage four melanoma resulted in some 13 major operations; it has also changed their priorities.
Inger has emerged more focused and stronger, with each day a gift he embraces with “enthusiasm and passion”. “If I stay positive, eat the right food, and keep healthy, then every day is a great day above ground,” he told NBR back in 2022.
Their children, in their late 20s and 30s, have become successful businesspeople in their own right. Son Craig is involved in the family’s Mercer Mushrooms venture, while their other son, Greg, is part of bargain hunter retailer Crackerjack.
Daughter Michaela owns the Mikko chain of shoe stores, and the youngest, Vicky, is a project manager with the Business Intelligence Group.
Glen and Joanne’s involvement with their children’s ventures is largely just in a guidance capacity.