Home appliances retailer Harvey Norman is set to take a significant stake in one of the nation's largest dairy farm companies.
The publicly listed retailer will spend around $34 million a 49.9 per cent stake in Coomboona Holdings, a dairy company based in northern Victoria's Goulburn Valley.
It's the latest in a line of companies announcing plans to diversify into dairy, including mining magnates, Bill McDonald and Gina Rinehart.
Harvey Norman's biggest shareholder and co-founder Gerry Harvey, reportedly also owns a large thoroughbred sales company, Magic Millions, as well as stakes in beef cattle operations.
Coomboona owns land and farm assets and in addition to farm operations, the business includes a pedigree breeding and genetics division.
