Italy's Barilla family buys New Zealand dairy farm for USD25 million

By VCPOST Staff Reporter

Nov 29, 2013 03:47 AM EST

The Barilla family, founders of the world's largest pasta company, has bought a dairy farm in South Island, New Zealand, for USD25 million. The said farm was acquired from Federated Farmers dairy chairman Willy Leferink and his wife Jeanet, according to MSN NZ.

The said purchase was approved by New Zealand's Overseas Investment Office on Friday. According to the investment office, the buyers intended to make further capital investment and enhance indigenous biodiversity in the said property, the report said.

The amount paid covers a 413-hectaire property in Rakaia, which is about USD61,000 per hectare, the report stated.

The Barilla pasta making business was started in 1877. The firm was established in a shop in Parma, Italy. At present, the company exports its products to over 100 countries. The pasta maker also has EUR4 billion (NZD6.7 billion) of annual sales.

Barilla is currently managed by the fourth generation Barilla siblings namely Luca, Emanuela, Guido, and Paolo. These siblings are listed as the new owners of the New Zealand dairy farm, MSN NZ reported.

© 2023 VCPOST, All rights reserved. Do not reproduce without permission.

Join the Conversation

Real Time Analytics