History

Landcorp was formed in 1987 from the Department of Lands and Survey. Along with other SOEs the intention at that time was to privatise the company. For a number of reasons this has not happened though is still possible depending on Government policy.

The company is in Crown ownership as a possible solution for unresolved Treaty of Waitangi (Treaty) issues involving land claims. Landcorp has sold and purchased properties with shareholder consent and while a number of claims have been settled, some properties remain subject to Treaty claims. In March 2007 the Crown decided that it wished to protect from sale, land which Landcorp intended to sell but which was deemed sensitive from a public policy perspective (Protected Land). These properties have been sold into Landcorp Holdings Ltd. They are still owned and managed by Landcorp and will remain so until such time as the Crown wishes to sell them. The current National Government policy is not to sell SOEs at least in its first term of office.  This is consistent with the previous Government's term in office during which Landcorp undertook significant development specifically in dairy and deer and also in its sheep and beef farming operations. Landcorp entered an agreement to manage the development and lease back of some 25,000 hectares in the central North Island utilising its land development strengths and significant pastoral farming skill and experience. This project has been truncated by the implications of the Emissions Trading Scheme (ETS).

The Present Organisation

Today, Landcorp is a rural conglomerate with farming and related activities spread throughout New Zealand and with an administrative centre in Wellington. It has a staff of 584 people with most of these being farm-based. It has assets totalling $1.4 billion.

The parent company, Landcorp Farming Ltd, has three subsidiaries -

 

• Landcorp Estates Ltd which develops and sells land (normally with joint venture partners) which is suitable for a higher value use than farming;
• Landcorp Holdings Ltd, which holds Landcorp property protected from sale under an agreement with the Crown. This land is managed for the Government until it is required for public policy purposes; and
• Landcorp Pastoral Ltd which is currently inoperative.

Leadership Role

Landcorp plays a leading role within the industry, contributing to Government and other forums on matters affecting farming and rural communities. It has invested heavily in science, technology and in training and education for both its own staff and the agricultural industry. Its breeding schemes produce top ranking animals which are in keen demand by other farmers; and it provides consultancy services and systems to businesses and investors operating in the rural sector.