• Retailer Harvey Norman has taken a significant stake in dairy farm company Coomboona.
    Retailer Harvey Norman has taken a significant stake in dairy farm company Coomboona.
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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.

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