Canadian firm Ramsay buys out dairy farm in Canterbury for $17mn

In a major tide of events witnessed across the global dairy sector, Ramsay Dairy Farm Limited, a state-run firm in Canada, has acquired a dairy farm in Canterbury across New Zealand for over USD 17 million. As per reliable sources, the purchase deal between the two firms had been approved by the Overseas Investment Office (OIO) in November 2017. Reports have confirmed that as per the agreement the sale included 335 hectares of land at 803 Ardlui Road in Canterbury and 72 hectares at Morgans Road.  It has been learnt that the area encompasses a mid-sized dairy farm along with a dairy support land chunk that can be linked to build up a massive dairy farm in the region.

As per sources, the main objective of the Canadian based firm is to transform a part of the dairy supporting area into a big milking platform for nearly four hundred cows. The OIO claims that this move will help in generating a substantial percentage of jobs across the New Zealand dairy farm sector, especially along the heels of farm size expansion and rise in exports due to high milk processing. It has also been confirmed that the decision to approve the deal was based on the earlier investments made by the Canadian firm in the country that had, back then, led to a higher proportion of job opportunities and had also brought forth a lot more funding for land development.

For the record, earlier in 2015, the OIO had also given a green signal for the sale of two farms on the Domain road in Canterbury, which were then joint to create a big dairy farm. Experts have claimed that the efforts made by OIO to develop the dairy sector in the New Zealand through foreign direct investments are certain to boost the economy of the nation, which accrues a major part of revenue through agricultural activities such as farming.