Burns Philp
Burns Philp (properly Burns, Philp & Co, Limited) was once a major Australian shipping line and merchant that operated in the South Pacific. When the well-populated islands around New Guinea were targeted for blackbirding in the 1880s, a new rush for labour from these islands began. James Burns and Robert Philp purchased several well-known blackbirding ships to quickly exploit the human resource in this region, and Burns Philp entered the slave trade. The company ended its involvement in blackbirding in 1886. In later years the company was a major player in the food manufacturing business. Since its  delisting from the Australian Securities Exchange in December 2006 and the subsequent sale of its assets, the company has mainly become a cashed up shell company. It is wholly owned by Graeme Hart's Rank Group (not to be confused with the British company of the same name). History. In April 1883 James Burns and Robert Philp began a trading partnership, originally named the "Burns, Philp & Company Limited". They were the first company to offer tourism to New Guinea, in 1884, advertising the 'New Guinea Excursion Trip'. This consisted of a five-week trip from Thursday Island and has been  described as the "official beginning of tourist cruises in the South Pacific". The company later published a book titled "Picturesque Travel," with the first issue appearing in 1911 and the last in 1925. Sir Robert Philp twice became Premier of Queensland, while Sir James Burns, became a member of the Legislative Council of New South Wales and founder/benefactor of Burnside Presbyterian Homes for Children. Up to 1903, Burns Philp operated as merchants and shipping agents in the Pacific Islands, as well as providing a mail service and carrying tourists to Papua New Guinea, New Hebrides and the Solomon Islands . In 1904, Burns Philp began to acquire plantations and land to develop into plantations in the British Solomon Islands. In 1914 the Burns Philp Tourist Department was established, advertising tours on Lord Howe Island and Norfolk Island. Acquisition of the Port Moresby Hotel occurred in the same year, with the Papua Hotel purchased some years later. Burns Philp "maintained a near monopoly on passenger services to Melanesia until the outbreak of the war in the Pacific". During this period the company had a dominant role in trade in the region distributing general merchandise and collecting copra. By 1916, Burns Philp  was operating 7 plantations in the British Solomon Islands through subsidiaries - the Solomon Islands Development Company, the Shortland Islands Plantation Ltd and Choiseul Plantations Ltd. The Burns Philp fleet. The ships owned and operated by Burns Philp included: Expansion of business. In the second half of the 20th century, Burns Philp became involved in the production and distribution of food ingredients and consumer branded food, beverage and related products. The Group operated internationally, with leading products and brands enjoying significant market shares in each of its principal markets. Its product ranges included packaged bread and other baked goods, snack foods , breakfast cereals, edible oils, and meal components. In the 1970s the management expanded the business through acquisitions and by the early 1980s, Burns Philp was a conglomerate that controlled over 200 companies involved in about 100 separate industries. The diversification put financial strain on the company, as nearly all of the companies in the group were not profitable. Beginning in 1984, the management began to restructure the group to focus on retail hardware stores and food ingredients, and acquired yeast and fermentation related businesses, such as vinegar production, in Europe and the United States. It became the largest supplier of  yeast and vinegar in the world. In the 1990s, Burns Philp expanded into the spices and seasonings sector and became the second largest supplier of spices and seasonings in the North American market. However, the competition with McCormick & Company developed into an intense price war, which damaged the profitability of the company. On 24 September 1997, Burns Philp announced a writedown of its herbs and spice assets from AUD$850m to AUD$150m, and started to sell the herbs and spices business in order to focus on its core yeast operation. Burns Philp sold the corporate headquarters in Bridge Street , Sydney. One of the most significant subsidiaries of the business in terms of profit was Goodman Fielder, Australasia’s largest baker, which was floated in an IPO (initial public offering). In 2007 Burns, Philp sold its remaining 20% stake in Goodman Fielder for NZ$676 million. Change of control. Since 1997 New Zealand businessman Graeme Hart has had an interest in Burns, Philp. He has been on the Board of Directors since 1997 and Chairman since 2004. In December 2006 Hart acquired the remaining 42% of Burns Philp he didn't already own and the company was delisted on 20 December  2006. After the sale of its yeast and spices business to UK firm Associated British Foods, Uncle Tobys to Nestlé for NZ$1.1bn, Bluebird Foods to PepsiCo for NZ$245 million, and its NZ$676 million 20% stake in Goodman Fielder the company became largely a cashed up shell. Burns Philp is wholly owned by Hart's private investment company Rank Group Limited. Heritage listings. A number of building associated with Burns Philp are now heritage-listed: Awards. Burns Philp was inducted into the Queensland Business Leaders Hall of Fame in 2009, for significant contributions made to the development of Queensland and its  economy.