Todd Corporation

{{short description|New Zealand electricity generator company}} {{Use dmy dates|date=April 2022}} {{Use New Zealand English|date=August 2024}} {{distinguish||text=the Todd Shipyards Corporation}} {{Infobox company | name = The Todd Corporation Limited | logo = | logo_size = | logo_alt = | logo_caption = | logo_padding = | image = | image_size = | image_alt = | image_caption = | trade_name = The Todd Corporation Limited | native_name = | native_name_lang =  | romanized_name = | former_name = {{ unbulleted list |Heriot Fellmongery<ref name="history">{{cite web| url=http://www.toddcorporation.com/content/todd-history| title=History| publisher=Todd Corporation}}</ref> (1884–1890) |C Todd & Son (1890–1892)<ref name="history" /> | Todd Bros & Co (1892–1919) (officially Incorporated in 1909)<ref name="history" /> |Todd Bros. Limited (1919–1987)<ref>{{cite web|title=Company Information - The Todd Corporation |url=https://www.business.govt.nz/companies/app/service/services/documents/FB3E2362A6FA3B459FAD8E10EE16EA23|website=companiesoffice.govt.nz|publisher=New Zealand Companies Office|accessdate=24 January 2017}}</ref> }} | type = Private | traded_as = | ISIN = | industry = Conglomerate | genre =  | fate = | predecessors = Todd Bros. Limited | successors =  | founded = {{sda|1884}} in Heriot, Otago, New Zealand  | founder = Charles Todd Snr.  | defunct =  | hq_location = Todd Building | hq_location_city = Wellington | hq_location_country = New Zealand | num_locations = | num_locations_year =  | areas_served = {{unbulleted list|New Zealand|Australia|United States|European Union}} | key_people = {{ubl |David flacks (chair) |Evan Davies (CEO) }} | products = | brands = | production = | production_year =  | services = | revenue = | revenue_year =  | operating_income = | income_year =  | net_income =  | net_income_year =  | aum =  | assets = | assets_year =  | equity = $3.1 billion<ref name="i.stuff.co.nz">{{Cite web |url=https://i.stuff.co.nz/business/118529448/how-to-build-a-multigenerational-business|title=How to build a multi-generational business|date=12 January 2020}}</ref> | equity_year = 2019 | owner = Todd family (~80%)  | members = | members_year =  | num_employees = | num_employees_year =  | parent = | divisions = {{unbulleted list | Todd Energy | Nova Energy | Todd Capital }} | subsid = {{ unbulleted list | Integria Healthcare Limited | Red Hawk Mining Limited (59.5%)<ref>{{cite web| url=http://www.toddcorporation.com/content/todd-increases-shareholding-rutila| title=Todd increases shareholding in Rutila| date=20 November 2014}}</ref> }} | module =  | footnotes = | website = {{url|http://todd.co.nz/}} }}

'''The Todd Corporation Limited'''<ref>{{cite web |title=The Todd Corporation Limited (3491) |url=https://www.business.govt.nz/companies/app/ui/pages/companies/3491# |publisher=Companies Office}}</ref> is a privately held conglomerate based in New Zealand, owned and controlled by the Todd family and headquartered in Wellington, New Zealand. Todd is currently led by board chair, Nick Olson,<ref>{{Cite web|url=https://toddcorporation.com/our-people/board-of-directors/|title=Board of Directors}}</ref> and group chief executive officer, Evan Davies.<ref>{{Cite web|url=https://toddcorporation.com/our-people/executive/|title = Executive}}</ref> Todd employs about 600 individuals at locations in New Zealand and Australia, including seven on the executive team. The board of directors has eight members.

==History== The history of Todd is understood to have begun in 1885 when Scottish immigrant Charles Todd founded and opened a fellmongery and wool scouring business (according to Todd Energy) in the small Central Otago town of Heriot. By 1929, it had evolved into a car sales and maintenance business run by his son and namesake Charles Todd after the company began importing motor vehicles.

This automotive business would define the Todd family business until well into the 1980s. Charles Todd was credited with bringing the first motor car into Otago and in 1908 acquired a Ford dealership in Dunedin then in 1928 acquired the Rootes Group franchise for Hillman, Humber and Commer and obtained an Auckland branch.

During the protectionist years of the 1930s the Todd family formed Todd Motor Industries Limited and in 1934 built an automotive assembly plant in Petone to reassemble vehicles imported as parts from Chrysler (USA) and Rootes. According to the Todd Energy website by 1964, Todd Motors was assembling and selling over 10,000 cars per year. In 1970 the company purchased the New Zealand Mitsubishi franchise. This franchise and assembly plants were sold to Mitsubishi Motors in 1987.

The Todd family also founded Europa, an oil importing and retail business that owned terminal services at four major ports and a chain of petrol stations across New Zealand. According to the Todd Energy website, this business was founded during disruptions in the petrol industry in 1929. Europa was originally named 'Associated Motorists Petrol Company Limited' (AMPC) and was formed in 1931. The company imported petrol from the Soviet Union in 1933 and was supported by the New Zealand Farmers' Union and various regional Automobile Associations. Because of price undercutting by overseas oil companies, the government introduced price regulation of petrol in 1933.<ref>{{cite web |url= http://www.TeAra.govt.nz/en/biographies/4t20/1 |title=Todd, Charles - Biography |first=Tony |last=Nightingale |work=Dictionary of New Zealand Biography |publisher=Te Ara - the Encyclopedia of New Zealand |date= 30 October 2012}}</ref> According to Todd Energy, Europa was the first to offer electric petrol pumps in New Zealand, the first to use articulated road tankers for fuel distribution, and the first chain to operate service station convenience stores.

The Todd family also developed interests in the prospecting for, extraction of, and refining of petroleum products. In 1954 they acquired prospecting licenses around New Zealand and developed joint venture agreements with Shell Oil New Zealand Limited and BP New Zealand. The discovery of the Kapuni gas and condensate field in 1959 meant that the Todd family, together with Shell and BP became major players in the New Zealand petroleum production business.

Later discoveries in the Maui gas field meant the Todd family was intimately involved in supplying a majority of New Zealand's LPG and CNG natural gas for energy generation as well as fuel for the transport industry. Together with Shell, BP and the Government-owned Petrocorp began production in 1980.

In 1972 BP New Zealand took a 60 percent interest in Europa, purchasing the company's marketing and refining interests including the Europa petrol stations. The two retail brands continued to operate independently, however, in 1989 they were brought under the BP brand.<ref>{{cite web| url=http://www.bp.com/liveassets/bp_internet/newzealand/corporate_newzealand/STAGING/local_assets/downloads_pdfs/h/history_of_bp_nz.pdf|title=History of BP NZ|publisher=BP}}</ref>

Todd continued its involvement in the exploration and production businesses.

When sold to Mitsubishi in 1987, Todd Motors was assembling a wide range of cars and light and heavy commercial vehicles. During the 1980s the Company held the number two market share position in the New Zealand automobile industry. The sale brought the Todd family's involvement in the New Zealand automotive industry to a close.

==Investments== Todd has interests in natural gas development and production, electricity generation and retailing, property, healthcare, minerals, and technology.<ref>{{cite web | title=Powering our country's future | url=https://todd.co.nz/our-portfolio | publisher=Todd | accessdate=24 January 2016}}</ref> * Integria Healthcare * PartsTrader * Todd Energy * Nova Energy

===Previous investments=== * A 35.0% shareholding in Metlifecare Limited, Todd Capital sold its entire shareholding in November 2005. * A 14.2% shareholding in Independent Newspapers Limited (INL) * A 25.0% shareholding in Clear Communications * A 20.0% shareholding in AAPT Limited, * A 21.0% shareholding in UtiliCorp NZ Inc * An interest in Sky Network Television a pay television operator * A 54% shareholding in King Country Energy Ltd.<ref>{{cite web|url=http://www.kce.co.nz/get-to-know-us/ |title=About KCE |publisher=King Country Energy |url-status=dead |archiveurl=https://web.archive.org/web/20150703002929/http://www.kce.co.nz/get-to-know-us/ |archivedate=July 3, 2015 }}</ref>

==Todd Energy== {{Infobox company | name = Todd Energy | logo = Image:ToddEnergyLogo.png | type = Subsidiary | traded_as = | foundation = {{sda|1929}}<ref>{{cite web| url=http://www.toddenergy.co.nz/about/history/| title=History| publisher=Todd Energy| accessdate=24 January 2016}}</ref> | founder = | location_city = Wellington | location_country = New Zealand | locations = | area_served = | key_people = Mark Macfarlane (CEO) | industry = Oil production Natural gas wholesaling LPG wholesaling | products = | services = | revenue = | operating_income = | net_income = | assets = | equity = | owner = | num_employees = 450 | divisions = Todd Energy Canada Ltd (TEC)<ref>{{cite web| url=http://www.toddenergy.co.nz/about/news/todd-energy-canada-investment/ |title=Todd Energy Canada investment| date=27 June 2014| publisher=Todd Energy}}</ref> | subsid = Nova Energy | homepage = {{url|http://www.toddenergy.co.nz/}} | footnotes = }}

'''Todd Energy''' is a diversified energy subsidiary based in New Zealand. Company offices are in New Plymouth, Wellington, and Calgary. Net production is approximately {{convert|25000|oilbbl|m3|abbr=off|lk=on}} per day of oil equivalent, and by 2015 Todd Energy expects to provide 35% of gas and 25% of oil production in New Zealand.<ref name="profile">{{cite web| url=http://www.toddenergy.co.nz/download_file/view/205/138/ |title=Corporate Profile| publisher=Todd Energy| date=May 2013}}</ref>

Todd Energy has interests in several producing fields in New Zealand, including Maui (6.25%), Kapuni (100%), McKee (100%), Mangahewa (100%), Maari (16%)<ref>{{cite news|url=http://www.upstreamonline.com/live/article178782.ece|title=Manaia-1 gets nod off New Zealand|work= Upstream Online| publisher = NHST Media Group|date=19 May 2009}}</ref> and Pohokura (26%).<ref name="NZEnergy2013">{{cite web|date=September 2013|title=Energy in New Zealand|url=http://www.med.govt.nz/sectors-industries/energy/energy-modelling/publications/energy-in-new-zealand-2013|publisher=MBIE}}</ref> Todd also has interests in 10 exploration permits, 5 of which are operated.

Todd has a 50% stake in Shell Todd Oil Services.<ref>{{cite web|url=http://www.stos.co.nz/AboutUs/KeyFacts.asp|title=Key Facts|publisher=STOS}}</ref> Retail brands include Auckland Gas.

=== History === Todd Energy traces its roots back to 1929 as the first indigenous oil company in New Zealand. The first Todd-owned commercial venture in New Zealand however was a fellmongery opened at Heriot in West Otago in 1885. The fellmongery was soon accompanied by a wool scouring business set up to support the growing sheep farming industry in the lower South Island.

The Todd Group's first foray into the motor industry was by obtaining the Ford dealership in Otago in the very early part of the last century. This eventually led to them entering the petroleum industry, as a petroleum price war in 1929 cut off supplies to their Christchurch branch of a Todd motor dealership.<ref>{{Cite web|title=Enterprise and energy|url=https://toddcorporation.com/|access-date=2021-06-21|website=Todd Corporation|language=en-NZ}}</ref> This was the catalyst for forming the Associated Motorists Petrol Company Limited, an indigenous petroleum marketing company.<ref>{{Cite web|title=History {{!}} Todd Energy |url=https://www.toddenergy.co.nz/?page_id=57|access-date=2021-06-21|language=en-NZ}}</ref><ref>{{Cite web|title=Inside the Todd empire |url=https://www.nzherald.co.nz/business/inside-the-todd-empire/ZZELW2JLG3ZCZ2RHXGF5GLD2UY/ |access-date=2021-06-21|website=New Zealand Herald |date=30 July 2015 |language=en-NZ}}</ref>

Todd Energy took a 20% shareholding in King Country Energy in 1999. It increased its holding to 35.38% in 2000. Then in 2012 it increased its holding to 54.07% and transferred it to Nova Energy.<ref>{{cite web |last=Simmons Corporate Finance Limited |title=King Country Energy Limited Independent Adviser's Report In Respect of the Full Takeover Offer by King Country Energy Holdings Limited |date=November 2015 |url= https://www.takeovers.govt.nz/assets/Transactions/71ebe33e15/King-Country-Energy-Limited-Full-takeover-offer-by-KCEH-Limited-IAR-November-2015.pdf |page=25 |access-date=2 July 2025}}</ref> Nova sold the stake to Trustpower in 2015.<ref>{{cite news |title=King Country Electric Power Trust rejects Trustpower takeover |first=Pattrick |last=Smellie |date=6 December 2015 |url= https://businessdesk.co.nz/article/king-country-electric-power-trust-rejects-trustpower-takeover |newspaper=BusinessDesk |access-date=2 July 2025}}</ref>

==Nova Energy== {{Infobox company | name = Nova Energy | logo = Image:NovaEnergy-logo.svg | type = Subsidiary | traded_as = | foundation = {{sda|2008}} | founder = | location_city = Wellington | location_country = New Zealand | locations = | area_served = New Zealand | key_people = Babu Bahirathan (CEO) | industry = Electricity generation, including solar Electricity retailing Natural gas retailing | products = Electricity Broadband Mobile Natural gas | services = | revenue = | operating_income = | net_income = | assets = | equity = | owner = | num_employees = | divisions = | subsid = | homepage = {{url|http://www.novaenergy.co.nz/}} | footnotes = }}

'''Nova Energy''' is a subsidiary that generates electricity and retails electricity, natural gas, broadband, and mobile in New Zealand. It supplies energy to both the residential and commercial sectors with customers ranging from private homes, schools, and hospitals to large industries.<ref>{{Cite web|title=todd-energy-and-nova-energy-submission-on-options-for-gas-act|url=https://www.mbie.govt.nz/dmsdocument/6853-todd-energy-and-nova-energy-submission-on-options-for-gas-act-1992-paper-pdf|access-date=21 June 2021|website=mbie}}</ref> It is New Zealand operated, with its customer service teams based in New Zealand.<ref>{{Cite web|title=About us |url=https://www.novaenergy.co.nz/about-us |access-date=1 October 2022 |website=www.novaenergy.co.nz|language=en}}</ref>

=== History === Nova Energy has been granted resource consents to construct a 100MW gas-fired peaking plant about 7 km south of New Plymouth<ref>{{Cite web|date=2012-07-11|title=New Plymouth to get power station|url=https://www.stuff.co.nz/business/industries/7264416/New-Plymouth-to-get-power-station|access-date=2021-06-21|website=Stuff|language=en}}</ref> and, in 2017, a 360MW mid-merit gas-fired power station near the Waipā River, at 869 Kawhia Rd, Ōtorohanga,<ref>{{Cite web |title=notice of the meeting|url=https://www.waikatoregion.govt.nz/assets/Uploads/Open-Agenda-Package-Council-meeting-25-May-2018.pdf |publisher=Waikato Regional Council |url-status=|access-date=22 June 2021}}{{deadlink|date=September 2023}}</ref> which was put on hold in 2021.<ref>{{Cite web |date=2021-10-27 |title=Building renewable power: Govt challenged to strike environmental balance |url=https://www.newsroom.co.nz/page/govt-must-strike-balance-for-renewables |access-date=2023-09-28 |website=Newsroom |language=en-AU}}</ref> Bay of Plenty Energy was a wholly owned subsidiary that changed its name to Nova Energy, the national brand, in 2012.<ref>{{cite web| url=http://www.switchme.co.nz/blog/bay-of-plenty-energy-changed-to-nova-energy/1111 |title=Bay of Plenty Energy has a new name – 'Nova Energy' |publisher=switchme |accessdate=19 August 2015 |url-status=dead |archive-url= https://web.archive.org/web/20151112040018/http://www.switchme.co.nz/blog/bay-of-plenty-energy-changed-to-nova-energy/1111 |archive-date=12 November 2015}}</ref> Crest Energy is the developer of the Kaipara Tidal Power Station.

=== Power stations === Their power generation assets include geothermal, gas-fired cogeneration,<ref>{{Cite web|title=Search Results {{!}} Ministry of Business, Innovation & Employment|url=https://www.mbie.govt.nz/search/SearchForm?Search=nova|access-date=2021-06-21|website=www.mbie.govt.nz}}</ref> and solar plants.

{| class="wikitable sortable" border="1" |- ! Name ! Fuel ! Type ! Location ! Maximum capacity (MW) ! Annual generation (GWh average) ! Commissioned ! class= "unsortable"| Notes |- | Edgecumbe | Natural gas | Cogeneration | | 10 | | | |- | Kapuni | Natural gas | Cogeneration | South Taranaki | 22 | | | 50% interest |- | Kuratau | Hydroelectric | | Waikato | 6 | 30 | 1962 | 35% interest |- | McKee | Natural gas | Open cycle | Taranaki | 102 | | 2013 | |- | Mokauiti | Hydroelectric | | Waikato | 1.925 | 7 | 1963 | 35% interest |- | Piriaka | Hydroelectric | | Waikato | 1.8 | 7 | 1924 (expanded 1971) | 35% interest |- | Whareroa | Natural gas | Cogeneration | Hāwera | 70 | 400 | 1996 | 50% interest |- | Wairere | Hydroelectric | | Waikato | | 18 | 1925 (extended 1938 and 1981) | 35% interest |}

==References== {{Reflist}}

==External links== * [https://www.toddenergy.co.nz/ Todd Energy] * [https://www.novaenergy.co.nz/ Nova Energy] * [https://www.todd.co.nz www.todd.co.nz]

Category:Todd Corporation Category:Electric power companies of New Zealand Category:Companies based in Wellington Category:Oil and gas companies of New Zealand Category:New Zealand companies established in 1884 Category:Energy companies established in 1884