Crafar bidder launches advertising campaign

Natural Dairy frontwoman May Wang Photo / Natalie Slade

The Hong-Kong based company bidding to buy 16 dairy farms from receivers has gone on the front foot, buying full-page national newspaper advertisements to set the "record straight."

Natural Dairy Holdings is seeking to buy farms previously owned by the Crafar family and reportedly valued around $206 million, which were placed in receivership last year.

The application has been referred to the Overseas Investment Office (OIO) which has yet to make a decision.

The company said not all comments about the bid had been accurate.

The ad, which features in today's NZ Herald under the headline "Why we want to buy the 16 Crafar farms" were done to "set the record straight".

Natural Dairy says the total area of the farms is less than half a per cent of New Zealand's dairy farmland.

Products from the farms such as UHT long life milk and infant formula would be exported to the "fast-growing" Chinese market and would introduce "Brand New Zealand" to at least 120 million new customers.

Natural Dairy said its investment would generate jobs and boost dairy export earnings by more than $120m.

Raising New Zealand's profile in China would also have positive spin-offs for other New Zealand exporters, the company says.

"Jobs will be created. Export earnings will increase. That's why we want to buy the 16 Crafar farms. And that's why we want to set the record straight," the ad says.

- NZ HERALD / NEWSTALK ZB / NZPA