Tuesday, 07 July 2020 09:55

Corporate farmer lures Canadian investor

Written by  Sudesh Kissun
Colin Armer. Colin Armer.

It's business as usual at the country’s largest dairy farming business after the official announcement of a shareholder revamp.

Dairy Holdings Limited, which operates 59 dairy farms in the South Island, is now 25% owned by Canadian investment company Sooke Investment.

Dairy Holdings majority shareholder Colin Armer told Dairy News that Sooke bought the stake from Jagwei Ltd, a holding company for JD and RD Wallace, about a year ago.

He says the transaction became public when Dairy Holdings filed its annual returns with the Companies Office last week.

Armer says the transaction involved “a large lump of money”.

With not a lot of investor capital available in New Zealand, the company accepted Quebec-based Sooke’s offer.

“There is no change to the way Dairy Holdings operates, it’s business as usual,” he says.

Dairy Holdings is now 42% owned by Armer and his wife Dale, 33% by the Turley family and 25% by Sooke.

The Canadian company is expected to appoint a board member soon.

Dairy Holdings board is chaired by former Fonterra director Greg Gent. Armer, who also served as a Fonterra director, sits on the board with his wife Dale. Murray and Margaret Turley are also board members.

According to Dairy Holdings’ website, its farms produce 17 million kgMS from 50,000 milking cows.

The operations are self-contained and include 15 support farms that provide for the rearing and supply of 10,000 in-calf heifers per annum to the dairy farms and grazing of all non-lactating cows over the winter months.

More like this

Corporate farmer cautious with spending cuts

Knee-jerk spending cuts that compromise long-term productivity are a real risk in the face of the $4.50/kgMS payout forecast and probable low opening 2015-16 figure, leading farmers are warning.


Meat quota rates remain vital

A jump in the value and volume of New Zealand’s sheepmeat exports to Europe and the UK shows why preserving WTO tariff-rate quotas is so important, claims the Meat Industry Association (MIA).


Lamb price down, but not weak

While lamb prices are starting the new season at around 16% below last year’s levels, they are not outright weak, according to the BNZ.


Machinery & Products

Let aura feed the mob

In a move that appears to have been repeated by many equipment manufacturers, Kuhn confirms it currently working on several…

Battery charger range recharged

Projecta's popular ‘Charge N’ Maintain’ automatic battery charger range has now been recharged – with the introduction of new features…

» The RNG Weather Report

» Latest Print Issues Online

Milking It

Eyes have it

OPINION: Painting eyes on the backsides of cows could save their lives, according to new research by Australian scientists.

Walkers versus cows

OPINION: A North Yorkshire teacher has become at least the second member of the public to be trampled to death…

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter