MercoPress. South Atlantic News Agency

NZ company buys Chile's largest farm in 80 million dollars

Lake Rupanco

A New Zealander company called Manuka has finalized a deal to buy most of Hacienda Rupanco, Chile's largest farm.

Manuka will pay an estimated 80 million US dollars for the 47,000-hectare hacienda, which until now belonged to Chile's Abumohor, Kauak, Díaz and Gutíerrez families. The Chilean owners, however, will maintain control of a relatively small portion of the property abutting Region X's Lake Rupanco. "I understand that they sold everything except for a percentage along the lakeshore that might be developed into a tourism project," Nicolás Abumohor told the daily La Tercera. Manuka, based in Osorno (Region X), was created in 2005 and is owned by 11 families from New Zealand. The company's principal interest in Hacienda Rupanco is the farm's milk producing potential. The hacienda produces some 40 million liters of milk annually. Analysts expect that with a major technology upgrade, the farm could soon double its production. Hacienda Rupanco currently sells its milk to local dairy leader Soprole, whose majority owner – Fonterra – is also from New Zealand. The farm is used as well to raise livestock, and to produce fruit and wood. The Santiago Times