If sheep farmers could get over their apathy and confusion, leave history behind and "act now" in solidarity, the first step required to achieve that could be made, Mrs Munro said.
A series of meetings is being held throughout the country this week to discuss the company's proposal to raise $40 million to buy New Zealand Wool Services International (WSI).
Wool Co is a joint venture between Wool Equities Ltd and Christchurch-based boutique investment bank Ocean Partners.
Yesterday, Mrs Munro, who farms Wairewa Station, a hill-country property near Fairlie, with her husband Philip, described it as "an investment in the future".
Profitable dual revenue streams must be maintained for sheep farming to remain viable.
Attempts within the industry to create a unified front had almost succeeded, which indicated there was a desire to do so.
An opportunity had arisen to bring "consolidation and modernisation" to the industry and it was important to act now as the opportunity would pass.
"It is time for maturity in the wool industry. Underpinning the price of New Zealand wool for farmers and manufacturers at acceptable levels is the only way forward," Mrs Munro said.
While the timing was unfortunate, given it was a busy time for farmers, they needed to "get their head around this" and consider what was happening.
The company's decision to reduce the minimum investment in its offer to $9500 was a "proactive" move.
While there was a desire to commit to the venture, farmers felt the initial threshold was "just too great" and the reduction made it accessible, she said.
In a recent letter to farmers, Cliff Heath, who is chairman of both Wool Equities and Wool Co, said Wool Equities was concerned that continued profitability was at risk because of the proposed sale of about 64% of WSI - New Zealand's largest independent wool scouring and exporting company - to Cavalier Wool Holdings.
The Commerce Commission gave permission for Cavalier Wool Holdings to buy WSI, which was then appealed.
The company believed the monopoly created and the closure of WSI could cause a reduction in price of up to $2 per kg of all wool sold, Mr Heath said.