New Zealand, Henan Prosper buys Bowron, Nichols passes to Wallace Group

The Henan Prosper Chinese tassel giant (Zhengzhou headquarters and about 6,000 employees in total), specialising in goat leather, expands its horizons in New Zealand. His Hong Kong branch, Rich Development, has invested $ 13 million in acquiring the G L Bowron & Co tannery of Christchurch. Founded in 1879 and specialised in sheepskin, it was owned by the Japanese of Hatchi Sydney. The goal of the new owners is to “expand Bowron’s production and business, generating concrete and efficient synergies with Henan Prosper and significantly increasing the export of New Zealand tanners over the next six years.” Always in New Zealand, Wallace Group, a leather chain player born in June after the merger between Wallace Corporation and Farm Brands, acquired Nichols, a tanner also located in Christchurch. According to Wallace, Nichols (in business since 1970) should continue to operate under its brand.

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