Swedes to buy Hart farms

February 1, 2013

Southern Pastures Limited Partnership, a group of Swedish investors, have Overseas Investment Office approval to buy eight Waikato dairy farms from Graeme Hart.

Swedish investors have government approval to buy eight Waikato dairy farms owned by NBR Rich Lister Graeme Hart.

The farms were part of 29 former Carter Holt Harvey dairy farms near Tokoroa – supporting almost 20,000 dairy cows over 30,000ha, on land converted from forest – put up for sale in 2010.

They were marketed for $225 million, with the cheapest at $5.1 million, suggesting the Swedish deal is likely to be worth tens of millions of dollars.

Ex-All Black captain Graham Mourie will run the farms for the Swedes. . .

The 16 former Crafar farms, the sale of which caused the xenophobes so much angst, covered about 8000ha and carried 16,000 cows.

That sale was believed to have been for about $200 million.

On the face of it, the Hart farms look like a bargain when compared with the Crafar ones but – and I stand to be corrected on this – I think the Crafar farms are on much better land.


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