Hart sells off dairy farms

ANDREA FOX
Last updated 15:41 31/01/2013
hart std
Fairfax NZ
GRAEME HART: The packaging empire king is back at No 1 after being usurped by Russian steel magnate Alexander Abramov last year.

Relevant offers

Farming

Bad weather renders seeds worthless Honey is the bees knees for sibling apiarists Sharing produces rewards Get worries out in the open, far from any clifftops UK farmers told to stop bleating about NZ lamb Fonterra cuts blamed on botulism scare Decision thwarts Ngai Tahu dairy plans Rural women point water woes finger at townies Farmer injured by bull Farmers urged to pay up for $2m dairy hub

Billionaire Kiwi businessman Graeme Hart has sold eight forestry-converted dairy farms in south Waikato to Swedish investors, leaving just five of his original big cluster of farms there still on the block.

Southern Pastures Partnership closed the deal with Hart’s Carter Holt Harvey HBU and Rank Group Property Investment companies in December, after obtaining Overseas Investment Office consent to the deal.

The settlement price is confidential.The OIO said Southern Pastures is 99 per cent owned by a Swedish public company, with a New Zealand company holding 1 per cent.

Southern Pastures intended to run the properties as commercial dairy farms, the OIO said.

The company intended to lift milk production and develop the farms.The sale means the Hart companies have five farms left to sell out of 31 which came on the market in December 2009.The Waikato Times understands 24 have sold, including the eight, and two have conditional deals on them.

The farms near Tokoroa were converted from forest to dairy use around five years ago.Companies Office records show the directors of Southern Pastures, registered in 2009, are former All Black Graham Mourie, Michael Copeland, Stuart Ford, Prem Maan, Taaringaroa Nicholas and Philip Wight.

Ad Feedback

- BusinessDay.co.nz

Special offers
Opinion poll

What is the main issue for farmers in the upcoming General Election?

Environmental policies that stigmatise farmers and erode income.

The high exchange rate.

Slow progress in upgrading rural broadband.

Rural communities under-represented in Parliament.

Vote Result

Featured Promotions

Sponsored Content

rural digi editions 4/9

Digital editions

Read our rural publications online