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Pair set to acquire dairy farm

Otago Daily Times Online News·Tuesday, 12 May 2026·21 days ago
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A former Queenstown-Lakes District mayor and one of New Zealand’s richest men are set to take over a 3000ha farm in Hāwea Flat. Rich-lister Berridge Spencer and 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. 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, with business associates of his holding a small stake in the venture.…

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