The transaction will help grow chicken consumption in the local market
Anderson Lloyd has advised Silverfin Acquisitions Limited subsidiary Silverfin Nominees (Inghams Hatchery) Limited on its acquisition of two large-scale poultry farms from Bromley Park Hatcheries Limited.
The deal is expected to help support the uptick in chicken consumption within the local market. It also plumps up Silverfin’s current poultry-related property portfolio with assets valued at almost $30m.
The two farms span about 44.56ha and are situated in the Waikato region. The complex acquisition involved a tripartite deed that was negotiated and entered into by all parties to manage its various elements. The transaction also included a wholesale investment scheme that offered investors the opportunity to invest in one or more of the 470 interests valued at $50,000.
The investments have an estimated initial return of 7.5% per annum after tax. The balance of the purchase price was funded through debt financing.
Inghams Enterprises (NZ) Pty also acquired Bromley Park Hatcheries Limited’s hatchery business at the same time. Silverfin granted Inghams long-term leases for the hatcheries in the third partnership between the two companies.
Anderson Lloyd’s property team in Auckland worked on the acquisition under the leadership of Dan Williams.
Property syndication company Silverfin holds over $575m in funds under management. Its poultry-related property portfolio presently includes a processing plant, a hatchery, and poultry farms in Waikato valued at $120m.
