Allied to buy out NZ Rural Land manager

The 794ha Terico, Southland, farm is part of the portfolio. (Image: NZ Rural Land Co)

Mon, 19 Dec 2022

Allied Farmers has exercised its call option to the half of NZ Rural Land Co's manager that it doesn't already own. NZ Rural Land Management, the manager of NZX-listed NZ Rural Land Co, manages a portfolio of 22 farming properties across South Canterbury, Otago and Southland, representing 11,710 hectares of land. The main chunk of that includes 14 dairy farms totalling 6,350ha, formerly owned by the Van Leeuwen Group, bought last June for $112.5 million.In October, it also announced it will pay $63m to buy 2,400ha across five...

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