Australasian Food Corporation Limited (NZSE:AFC), NZ Silveray Group Limited and Yinrui Shen signed an agreement to purchase Mate Vuletich & Sons Limited from Vuletich family on February 19, 2016. Australasian Food Corporation Limited will pay NZD 1.2 million in cash for its 51% stake in Longview Estate. Australasian Food will use its cash reserves to fund its share of consideration.

Longview Estate will operate under the name of Australasian Food Corporation Longview Ltd after the acquisition. Mario Vuletich and his daughter Maree Vuletich will continue to work at Longview Estate after the transaction.