[7 June/ Agri Investor]

KRR is planning to purchase Harvard Management Company’s dairy investments in New Zealand for more than $70 million. The sale includes 8,500 acres of dairy farms and 5,500 cows located on the South Island and is expected to close, at earliest, at the end of 2017, pending regulatory approval. Harvard Management Company has spent $40 million on dairy farms and improvements in New Zealand over the past decade, and the KKR deal is expected to turn a profit.