Tuesday, 11 July 2023 08:55

Sad ending for Happy Valley

Written by  Sudesh Kissun
An artist's impression of the planned milk plant in Otorohanga. An artist's impression of the planned milk plant in Otorohanga.

After struggling for years to secure capital, a proposed greenfield milk plant project in King Country has collapsed.

The Happy Valley Nutrition board went into voluntary administration last week.

Advisory and restructuring firm McGrathNicol says the Happy Valley board has appointed Andrew Grenfell and Kare Johnstone as voluntary administrators.

It says the administrators are undertaking an urgent review of HVNL. Further updates will be provided in due course.

The first statutory meeting of creditors is expected to take place on July 18.

"A meeting notice setting out the time and location for the first meeting of the creditors will be distributed to HVNL's creditors over the coming days," it says.

HVNL was set up in 2016 to develop the milk plant.

While the company had acquired land at Otorohanga and had obtained resource consents from the Otorohanga District Council and Waikato Regional Council, it failed to secure funding for the project.

One of the HVNL founders and key backers Randolph van der Burgh, who resigned from the board in May, wouldn't comment.

"I am no longer an HVN director and therefore I am not able, nor authorised, to comment," he told Dairy News.

More like this

Sad ending

OPINION: There will be a few happy and relieved Fonterra farrmers in Otorohanga.

More strife

OPINION: Another dairy company in strife is Happy Valley Nutrition.

Featured

Farmers will adapt amid global trade turmoil

New tariffs imposed by President Donald Trump signal an uncertain future, but New Zealand farmers know how to adapt to changing conditions, says Auriga Martin, chief executive of Farm Focus.

National

Machinery & Products

Amazone extends hoe range

With many European manufacturers releasing mechanical weeding systems to counter the backlash around the use and possible banning of agrochemicals,…

Gong for NH dealers

New Holland dealers from around Australia and New Zealand came together last month for the Dealer of the Year Awards,…

A true Kiwi ingenuity

The King Cobra raingun continues to have a huge following in the New Zealand market and is also exported to…

» Latest Print Issues Online

Milking It

Dairy power

OPINION: The good times felt across the dairy sector weren't lost at last week's Beef + Lamb NZ annual meeting.

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter