Berridge Spencer, one of New Zealand’s richest men, and former Queenstown Lakes District Mayor Sir John Davies have been connected to the sale of Devon Dairy Farms, with local speculation putting the value of the transaction, including the farm’s 4500 cattle, at $140 million, a BusinessDesk report said.
The New Zealand Companies Register shows 45% of shares in the new venture are held by Trojan Holdings, a business 100% owned by Sir John Davies.
Trojan Holdings owns significant assets in the South Island, including NZSki, the company which owns the The Remarkables, Coronet Peak and Mount Hutt ski areas, the Hermitage Hotel at Mount Cook, as well as transport businesses and major events such as Coast to Coast.
A further 45% of shares was owned by Peninsula Farms, which was almost entirely owned by Mr Spencer, and business associates of Mr Spencer hold a small stake in the venture.
The remaining 10% of shares were held by a business called Shaw’s Property Holdings Ltd, shares of which were held by seven individuals with addresses in the North Island, the companies register showed.
The farm in question is located at the northeast corner of the intersection of Camp Hill Rd and the Hāwea River, with the Hāwea river running along its eastern border.
Both Sir John Davies and Mr Spencer have existing interests in dairy farming, the BusinessDesk report said.
Trojan Holdings and Mr Spencer did not respond to inquiries made by Allied Media.
