Pāmu backing Alliance Group’s capital raise, wants 'successful' outcome

Pāmu's largest processor is actually Silver Fern Farms. (Image: NZME)

Tue, 26 Nov 2024

Pāmu Farms of New Zealand has confirmed it is participating in Alliance Group’s internal capital raise and says it wants a successful outcome not just for the processor but for the wider industry.The state-owned farmer, whose legal name is Landcorp, lifted its operating net profit guidance on Friday buoyed by rising milk prices, production and increasing red meat prices.It is the second largest shareholder of Alliance – which reported a $95.8m net loss last week – holding 1.5% of the country’s only fully farmer-owned red...

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