Cobb Vantress to invest $58 million in a poultry farm in New Zealand
A land sale of 149 hectares for the company Cobb Vantress has been approved by the Overseas Investment Office of New Zealand. The British poultry producer, owned by Tyson Foods, intends to invest $58 million in a farm just outside Huntly. The farm will create 100 new jobs when it will be open, in 2019, according to Stuff.co.nz portal.
The poultry industry in New Zealand is thriving since the locals have developed a taste for the chicken meat. In fact, in 2017 chicken breast has replaced beef mince as locals' favourite meat. The industry has reported a production of 118 million birds last year, three million more than in 2016.
Three areas are renowned for the number of the poultry farms: Waikato (93), Canterbury (84), and Auckland (81). Still, the biggest poultry farm, Mainland Poultry, is located in Dunedin, on the South Island of New Zealand. Last year, the farm was bought by Australian equity firm Navis Capital for $350 million.
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