Nearly 5000 hectares of prime, irrigated Canterbury farmland is up for sale as the Board of  the independent South Island dairy company, Synlait Limited, look for an investment partner.

The parent company is prepared to shed as much as 70 per cent of its holding in Synlait Farms.

The company owns 13 dairy farms in Canterbury, making it one of the largest dairy farm operations in the country.

Synlait Limited chairman Barry Brook says the founding shareholders, John Penno, Juliet Maclean and Ben Dingle are very positive about the future of the company, but the company was seeking an investor to ‘better position the dairy farming business and take advantage of identified growth opportunities’.

Mr Brook said there was significant interest from potential New Zealand investors.

Synlait Milk recently opened a $100 million high-value infant milk formula plant in Dunsandel.