This is a generational opportunity to acquire one of New Zealand's leading large scale dairy operations - a business running 5,250 cows, producing 2,288,760 milk solids across 2,369 hectares and a forecast of 2,530,000 milk solids for the 2025/26 season. A fully integrated, medium input, grass-based system, this business is built around six high performing dairy farms - Blythe, Grandbend, Te Marama, Tokomaru, Tollbridge and Waihora, supported by the Tahuna dry stock unit. Strategically located across the wider Manawatu and Rangitikei, the portfolio offers strong environmental attributes, proven output, and substantial development upside. The operation is largely self contained, delivering total control inside the farm gate. It is run by a highly capable and stable team, with 33+ staff and a full operating management. Many of the employees have long tenure, and the management structure is already in place for a seamless transition. Infrastructure development plans have been prepared to further enhance ease of management, support staff retention and lift on-farm performance - providing new owners with a clear pathway to future growth. This is a business that ranks its performance into the top 20% profitability. The properties are offered for sale either in their entirety as a complete large scale operation, as clusters or individually and are initially being marketed through non binding expressions of interest. A rare chance to secure scale, performance and potential - a once-in-a-generation farming opportunity. Non binding expression of interest closing 11am, 25/2/2026.

Tender 25 February 2026

Blythe Farm offers a productive, well located dairy operation with the added benefit of development potential and secure irrigation. With highly fertile soils and the option to integrate 20 ha land (owned but currently grazed by neighbouring farm within the group), this property provides flexibility for growth or alternate land use. Key features: •Land and infrastructure: 278 ha total freehold with 245 ha milking platform Highly fertile soils with potential for alternate land uses 44 aside herringbone cowshed 21 ha available to add to the operation •Development potential: Opportunities to further enhance scale, efficiency or diversify land use •Irrigation security: Three centre pivot irrigators Long term consent through to 2038 •Additional land option: 20 ha of owned adjacent land (grazed by Tokomaru Dairies) available to be incorporated, increasing scale and flexibility •Strong production: Peak milking 735 cows Producing 327,079 kgMS for the 2024/25 season, currently up 19.6% on last year with a target of 350,000kgMS for 2025/26 With secure irrigation, fertile soils and options for expansion, Blythe Farm represents a versatile and future focused dairy opportunity with significant upside. Non binding expression of interest closing 11am, 25/2/2026.

Tender 25 February 2026

Tokomaru Farm is a substantial dairy operation offering scale, multiple dwellings and a well balanced mix of soil types. With improving drainage, enhanced water systems and strong production capacity, this property is well positioned for continued performance. Key features: •Scale with support land: 320ha freehold, including 310 ha milking platform including 24 ha grazing area from neighbouring farm Blythe, supported by productive cropping land •Strong production and capacity: Peak milking 950 cows Consented for 1,100 cows Producing 430,276 kgMS for the 2024/25 season, currently 7.2% up on last year with a target of 452,000 for 2025/26 353 cows winter milked •Quality infrastructure: 60 bail rotary, including ACR's Recently upgraded water system areas Feed pad plus excellent effluent system (solid separator) •Accommodation: Six houses, providing excellent on farm staffing and family living options •Land and soil: Highly fertile soils with ongoing drainage development Good balance of soil types, supporting pasture growth and cropping options •Location: 20 minutes south of Palmerston North and within minutes of Tokomaru With its scale, fertility, upgraded water systems and proven production, Tokomaru Farm offers a strong, versatile dairy platform with further potential productivity long term gains. Non binding expression of interest closing 11am, 25/2/2026.

Tender 25 February 2026