Enterprise Angels

Appleby Farms Limited

Early Stage Capital

Register Interest


The law normally requires people who offer financial products to give information to investors before they invest. This information is designed to help investors make an informed decision.

If you are a wholesale investor under the definition of that term in clause 3 of Part 1 Schedule 1 of the Financial Markets Conduct Act 2013, the usual rules do not apply to offers of financial products made to you. As a result, you may not receive a complete and balanced set of information.

You will also have fewer other legal protections for these investments. Ask questions, read all documents carefully, and seek independent financial advice before committing yourself.

Transaction Size
NZD 2,000,000.00
Share Price
NZD 1.00
Minimum Investment
NZD 50,000.00
Issue Type
Early Stage Capital
Food & Beverage

The opportunity exists for wholesale investors to express an interest to invest in Appleby Farms. Founders Julian Raine and Murray King are both passionate dairy farmers who care intensely for their farms and animals and have been good mates for a long time. They had been searching for a way to value add their milk and get a decent return without having to rely on the vagaries of commodities markets. So with co-founder and food technologist Kristy Giles, their solution was to go into the ice cream business. From cow to cone, Appleby Farms takes the whole process and turns it into a labour of love. Appleby Farms owns the paddocks, grows the grass, nurtures the cows and churns the milk into the best premium ice cream.

Click to view the brand story - told by Julian, Murray, and Kristy in their own words.

Appleby Farms is unique among ice cream companies with its farmer and A2 milk protein value propositions:

  • All ice cream is made with milk from their own A2 cows
  • The strategy is to build a long-term sustainable business of which current and future generations can be proud
  • It is a Top-of-the-South business with a strong provenance story
  • It is past the pre-revenue / early stage – a lower risk proposition with a business already underway
  • It has a strong management team with deep export experience
  • They wish to be good corporate citizens for the community and the environment
  • Strong values alignment among their investors is important to them
  • In the long term they expect to generate strong cashflow with an EBITDA of 20+% from which dividends are expected to be paid annually

The A2 Value proposition

Depending on a cow’s genetics, they’ll produce milk that contains either the A1 or A2 proteins, or a combination of both. Most of the milk you see in the supermarkets today consists of a mix of A1 and A2 proteins. For people who have trouble drinking regular cow’s milk, it might be because of the A1 protein. So choosing products made with only A2 protein milk could make all the difference.

Appleby Farms has grown strongly in New Zealand, with presence in over 130 outlets and it is the no.1 selling ice cream brand in Farro Fresh stores. The company has appointed an agent in Australia, who now have distribution to over 170 stores, and they are targeting five South East Asian countries for export.

To express interest, click the Register Interest button. Click on the Documents tab to download the Investor Pack.

Appleby Farms Investor Presentation - Syndex
October 5, 2020

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