The assets, which consist of radiata pine, Douglas fir and eucalyptus plantations, are located on both the North and South Islands.
Hancock now manages 296,000ha of plantation timber in New Zealand.
“We have confidence in the New Zealand economy and in the country as a place to do business,” said Hancock’s president Dan Christensen. “Our experience has been extremely positive.”
“We believe the forests industry in particular has an exciting future, with excellent plantations generating a high-quality, fast-growing resource ideally suited to meet domestic New Zealand needs as well as to supply Asia and other growing global markets.”
