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HomeNEWSLewis Road Creamery gets new investor

Lewis Road Creamery gets new investor

Lewis Road Creamery has had a significant stake of its business taken out by dairy farming investment fund, Southern Pastures.

Lewis Road Creamery has had a significant stake of its business taken out by dairy farming investment fund, Southern Pastures.   

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The undisclosed yet significant stake means executive chairman Prem Maan is set to join the Lewis Road board.

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The investment will allow Lewis Road to explore its options to export its products overseas, the company said in a statement.

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Founder and chief executive Peter Cullinane will remain the company’s largest shareholder.

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Lewis Road as a brand remains in its infancy, only launching in 2012. Yet the premium dairy brand has seen exponential growth and impressive longevity in the New Zealand market.

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Cullinane said Southern Pastures, as a cornerstone investor, would help in its drive to expand within New Zealand and abroad. The investment fund shares its view that “the future of New Zealand dairy lies in quality not quantity”, he said.

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Southern Pastures’ Prem Maan said the fund saw considerable potential for premium dairy products from New Zealand’s free-range, grass-fed dairy farming systems. The fund has previously invested in 19 dairy operations and one beekeeping business.

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“Lewis Road has become the premium dairy brand in New Zealand and we expect that, with our support, Peter and his team will be able to develop more exciting products and investigate potential offshore markets for expansion,” Maan said.

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“There is no intention to change any staffing, operational or commercial arrangements at Lewis Road. Southern Pastures will play the role of a supportive and constructive long-term shareholder fostering innovation and expansion.”

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Some innovations have already begun, with Lewis Road launching its newest flavour of milk last month.  

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