Its history dates back to 1928 and it has played an integral role in the foundations of farming in the region, but now the Hastings Valley Dairy factory plant in Wauchope will be changing hands.
The Dairy which, back in its prime, supported 75 farmers, is on the market.
Since the deregulation of the dairy industry it now only supports 13 farmers, said Hastings Co-operative Chief Executive Officer Phil Bryant, in the company of factory manager David Rideout.
The sale, he said, would allow interested buyers to inject the capital and resources to take the Dairy to another level that, at this point in time, the Co-op was unable to do.
The Board of Hastings Co-operative has received interest from several parties in relation to the sale of the factory plant in Randall Street, Mr Bryant confirmed.
“The Hastings Co-op Board is evaluating all of the proposals by communicating with the relative parties, so that it is in a position to make decisions or recommendations to all the Hastings Co-op shareholders as and when there is further information,” the Board’s statement read.
“There are a number of processes that need to be managed before a decision can be made.
“The Hastings Co-op will certainly pursue discussions with all of its stakeholders.
“The final recommendation will be in the hands of shareholders who will be asked to complete a postal vote on the issue.”
Mr Bryant said the Co-op had become more focused on a retail level, also with its fuel outlets and department store business.
With membership bordering on 9000, he said the future of the Co-op lay in this direction.
“Our focus has certainly moved from manufacturing to retail,” he said.
“And we have been assured the buyers of the Dairy are prepared to keep the business and to move it forward.
“The Board has undertaken to provide an independent accountant’s report on the feasibility of any potential sale.
“All possible options will be explored in making a decision to ensure that it is of benefit to shareholders, suppliers, staff and the community.”
Story: Kate Yates
