New Zealand’s largest free-farmed pig operation has been placed on the market, with agents expecting significant interest from industry players and high-net-worth investors.
Patoa Farms, near Hawarden in North Canterbury, spans nearly 900 hectares across three adjoining blocks and includes what is considered the country’s biggest free-farmed piggery.
The property is being sold as a freehold going concern by deadline sale on January 28.
Colliers rural agent Richard O’Sullivan said the business includes about 5000 breeding sows and produces roughly 100,000 finished pigs each year.
The operation turned over more than $41 million in the past financial year, with ebitda of around $7.7m.
The asset includes two adjoining farms,which now provide extensive biosecurity and environmental buffers around the central piggery block.
O’Sullivan said early interest had already been strong, with prospective buyers ranging from large industry operators to wealthy investors and established Canterbury farming families looking to diversify.
“There are probably three different buyer groups we’re seeing,” he said.
“You’ve got industry players who understand the regulatory landscape and see the value in free-farmed systems. Then there are high net worth investors already in, or wanting exposure to, the rural sector. And lastly, large-scale family farming operations in Canterbury who understand the water resources, the biosecurity buffers, and the compost and fertility benefits.”
The farm has been developed over more than 25 years and now operates with what O’Sullivan described as high environmental compliance and extensive modern infrastructure.
“They’ve just reached the end of a huge deployment of capital,” he said.
“The central piggery block is extremely well developed. They even have their own engineering capability and roofing machinery for building and maintaining sheds.”
O’Sullivan said a pig operation of this size coming onto the market was a rarity.
“In my time at Colliers, I haven’t seen anything of this scale.”
O’Sullivan said the sale involvesrural and commercial elements, given the complexity of supply, marketing and regulatory compliance.
“There’s a real appetite for rural assets that show a return to an investor. Canterbury, in particular, is moving forward faster than the rest of the country due to its flat land, irrigation access, and strong capital flow from sectors like dairy.”
The farm also includes approximately 305 hectares of irrigated cropping land surrounding the piggery.
The family owners, he said, were intent on finding a buyer that will continue operating the farm, rather than breaking up the asset.
“This is very much a legacy transaction,” O’Sullivan said.
“There are about 55 staff on-site, and the family is focused on ensuring continuity. Its highest and best use is as a free-farmed pig operation - the whole land-use consent is built around pig production, and changing that would be extremely difficult.”
Longstanding supply contracts with Woolworths and Harris Meats are included and transferable to a new owner.
With the property marketed without a price guide, O’Sullivan said the sellers were “open to the market” given the difficulty of valuing an asset of such scale being sold in its entirety.
Viewings are available to qualified purchasers by appointment.
Ben Tomsett is a multimedia journalist based in Dunedin. He joined the Herald in 2023.