increase font size
Keith Sutton.
Australia's largest dairy farm could change hands before Christmas.
The Van Diemen's Land Company (VDL) in Tasmania, owned by the New Plymouth District Council, is talking to potential investors, as confirmed by VDL governor Keith Sutton.
"VDL is dealing with a number of parties looking to invest in the company," he told Dairy News. "VDL expects an outcome to be announced well before Christmas."
The farms are owned through New Plymouth council's Perpetual Investment Fund (PIF), which gradually increased its ownership in the farms to a majority holding over a number of years.
The council's PIF was created from the $259m sale of the council's shares in lines company Powerco in 2004.
Established in 1825, VDL is located in the picturesque northwest of Tasmania, where it owns and operates 25 dairy farms, a dairy support unit and a standalone heifer rearing operation. Including replacements VDL runs about 30,000 dairy livestock.
VDL is one of Australia's oldest companies, established in London in 1824 by 11 men closely connected with the English wool trade and textile industry.
VDL became part of the New Zealand publicly listed company Tasman Agriculture Ltd in 1993. This went into voluntary liquidation on October 31, 2001, following a restructuring of its New Zealand Farms, and its shareholders received one share in Tasman Farms Ltd for every share held in TasAg by way of an in-specie distribution.
In June 2004 VDL bought all the shares in Tasman Farmdale Ltd, which owned land in the Circular Head region of northwest Tasmania.
Tasman Farms Ltd, an NZ company, is the majority shareholder in VDL, owning 98.42% of shares on issue.
In late 2007 the New Plymouth District Council (NPDC) bid to buy Tasman Farms Ltd. In February 2008 this bid was finalised, the NPDC buying 74.33% of Tasman Farms Ltd. NPDC has since increased its shareholding to 100%.
OPINION: Your old mate hears that at a recent China Business Summit, PM Christopher Luxon delivered a none-too-subtle "could try harder" report card on the red meat industry regarding its exports to China - particularly when compared to Australia.
More Australian states are embracing virtual fencing technology, opening growth opportunities for Kiwi companies like Halter.
Fonterra says its ongoing legal battle with Australian processor Bega Cheese won’t change its divestment plans.
Farmers in the Australian state of New South Wales will soon be able to use virtual fencing and herding technology to boost farm productivity.
Australian farmers advocate NFF says this year’s Federal Election will be a defining moment for Australian agriculture.
Dawn Meats is set to increase its proposed investment in Alliance Group by up to $25 million following stronger than forecast year-end results by Alliance.
A day after the ouster of PGG Wrightson’s chair and his deputy, the listed rural trader’s board has appointed John Nichol as the new independent chair.
Tributes are pouring in from across the political divide for former Prime Minister Jim Bolger who passed away, aged 90.
The iconic services building at National Fieldays' Mystery Creek site will be demolished to make way for a "contemporary replacement that better serves the needs of both the community and event organisers," says board chair Jenni Vernon.
Agri advisor Perrin Ag says its graduate recruitment programme continues to bring new talent into the agricultural sector.
Entries are open for the 2026 New Zealand Dairy Industry Awards (NZDIA).
