December 02, 2015
Ngati Raukawa buys in to Ranginui Station
South Waikato based Ngati Raukawa has bought a 47.5 per cent stake in a major farming operation near Mangakino.
The 2500ha Ranginui Station includes three dairy farms, forestry and dry stock.
Raukawa Settlement Trust chair Vanessa Eparaima says the purchase means the iwi as once again a significant landowner within its tribal boundaries.
The station is being bought in a partnership with Pouakani Trust and Putake Limited, which is a joint venture between the Maori Trustee Te Tumu Paeroa and Taupo Moana Group.
Ranginui produces more than 800,000kg of milk solids.
Ms Eparaima says it has good bush, forest and runoff areas and a strong compliance culture instituted during development.
Raukawa Iwi Development Limited chair John Spencer says the purchase was part of a deliberate strategy by the company to seek a balanced portfolio that generates the necessary cash flow to sustain distributions but also provides for long-term capital growth.
Last year Raukawa invested alongside a collective of six central North Island iwi to buy a 2.5 per cent stake in New Zealand's largest forestry business, Kaingaroa Timberlands which is valued at more than $2 billion. The collective – Kakano Investment Limited Partnership – bought the stake from the New Zealand Superannuation Fund.
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