The company paid NZD$11.5 million. Settlement is expected to occur by 31 March 2021.
The acquisition includes Ingham’s feed mill at Hamilton, and direct-to-farm and packaged dairy nutrition business in New Zealand.
Ricegrowers, which trades as Sunrice, says that the investment demonstrates continued delivery of its 2022 Growth Strategy, and is expected to be earnings per share accretive.
Shares in Ricegrowers (ASX:SGL) last traded at $6.21.