New Zealand Rural Land Company (NZL) has confirmed the acquisition of 15 dairy farms for a combined purchase price of $122.7 million.
This announcement includes the acquisition of the 14 Van Leeuwen Group dairy assets, spanning 6,350 hectares in South Canterbury and North Otago, for $112.5m, as well as 456 hectares in Southland for $10.2m.
NZL used a combination of capital raised during its initial public offering and its loan facilities to acquire the assets.
The company raised $75 million when it listed on the share market in December last year.