Sharechat Logo

Italy's Barilla pasta family pays $25 million for Leferink dairy farm

Friday 29th November 2013

Text too small?

Italy's Barilla family, founders of the world's largest pasta company, have paid $25 million to buy a South Island dairy farm from Federated Farmers dairy chairman Willy Leferink and his wife Jeanet.

New Zealand's Overseas Investment Office approved the purchase in a decision released today, saying the buyers intend to make additional capital investment in the farm and develop significant indigenous biodiversity.

The price for the 413-hectare property Rakaia property represents about $61,000 a hectare, a 33 percent premium to the $46,000 a hectare median price for Canterbury dairy farms in the latest Real Estate Institute figures and 85 percent above the $33,000 national median dairy price in October.

Barilla pasta, sold in distinctive blue cardboard boxes, was established in 1877 as a bread and pasta shop in Parma, Italy. It is now a global business with exports to more than 100 countries and almost 4 billion euro of annual sales. The company is headed by the fourth generation Barilla siblings, Guido, Luca, Paolo and Emanuela, who are named as the new owners of the New Zealand farm.

BusinessDesk.co.nz



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Broader review powers eyed for Climate Change Commission
MARKET CLOSE: NZ shares edge lower as global ructions weigh; Tourism Holdings sinks
NZ dollar rises as markets bet on US interest rate cut
Fonterra seeks further changes to dairy act
Tilt, Oji say transmission changes may discourage new generation
Tourism Holdings shares fall to 6-week low as US margins shrink
Venture capitalists split on govt picking winners
21st October 2019 Morning Report
Kiwi dollar steady as markets await Brexit developments
Domestic AGMs, multi-national earnings to provide economic insights

IRG See IRG research reports