Friday, 23 April 2021 13:09

Van Leeuwen Group in receivership

Written by 

One of New Zealand’s largest dairy farmers- the Van Leeuwen Group- has been placed into receivership.

 

Calibre Partners, formerly KordaMentha, has been appointed receivers.

In a letter to suppliers, receivers Brendon Gibson, Neale Jackson and Natalie Burrett, says they are now in control of the assets of businesses of the van Leeuwen Group.

They intend to continue running the business, which comprises 10 dairy platforms and four support blocks with 8000ha under management, milking approximately 10,000 cows. It also includes the world’s largest robotic farm.

Owned by Aad and Wilma van Leeuwen, the business was among a number of other farmers around New Zealand who have suffered from the Mycoplasma bovis outbreak, which hit their farms in July 2017.

They were embroiled in a legal battle with Ministry of Primary Industries (MPI) in a dispute about compensation. They have already been paid out $6.3 million by MPI, but sought further compensation for professional consultancy fees, bank charges and assorted other costs.

Early last year VGL refinanced its operations under a $140 million deal with Australian-based funds manager, Merricks Capital.

On Wednesday Calibre Partners wrote to the van Leeuwens giving notice that Merricks had appointed them receivers.

More like this

Buyer for VLG assets

The New Zealand Rural Land Company (NZL) says it has entered conditional agreements to buy assets from the Van Leeuwen Group (VGL), which went into receivership last week.

Dairy shines in Covid world

Consumers are flocking back to dairy products as Covid shines the light on health and wellness, says Tom Bailey, the new senior vice president for Southern Pastures.

Dairy demand tipped to firm

Demand for dairy will firm over the next two years as  the global economy rebounds from Covid, says Westpac senior agri economist Nathan Penny.

National

An 'amaizing' change

The success of some of the early Māori adopters in the kiwifruit industry is starting to catch on.

Machinery & Products

Made in NZ... Hansen Products

Made in New Zealand looks at the wealth of design and manufacturing ability we have in this country, producing productive…

New models mark seventh decade

Celebrating its 70th year – and having already released the fifth generation A Series in January – Valtra has just…

Kubota's new autumn offerings

Kubota, which is gaining traction in the agricultural sector with an ever-broadening portfolio, has announced some additions for autumn.

» The RNG Weather Report

» Latest Print Issues Online

The Hound

Bad company

The Hound is among many in the agriculture sector, including many of our top scientists, who are somewhat cynical claims…

Quitters?

OPINION: This old mutt wonders what it is about tall, balding, ex-Fonterra executives and their (non) ability to handle life…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter