LIHUE — A Grove Farm Co. official confirmed Tuesday the company has sold a chunk of property to a private buyer. Mike Tresler, senior vice president of Grove Farm, said a deal had been completed, but couldn’t comment on specifics
LIHUE — A Grove Farm Co. official confirmed Tuesday the company has sold a chunk of property to a private buyer.
Mike Tresler, senior vice president of Grove Farm, said a deal had been completed, but couldn’t comment on specifics behind the transaction.
“I can confirm that,” Tresler said. “It’s out there … If there was a transaction, yes, there was.”
Pacific Business News reported that Tennessee billionaire Brad Kelley, the fourth-largest landowner in the United States, recently purchased 3,000 acres of agricultural land in the Puhi area just past Kipu Road. The article said that the price range could have fallen between $30 to $150 million, and that nothing would change on the land in the short-term.
With a net worth of $2 billion, Forbes ranked Kelley as No. 273 on its Forbes 400 list. Kelley, 57, earned his fortune from discounted cigarette brands USA Gold, Bull Durham. He sold the business, Commonwealth Brands, for $1 billion in 2001.
The PBN article stated that Dow AgroSciences LLC is one of the companies with a lease on a portion of the sold land.
Peter Wiederoder, site manager for Dow Agrosciences, told The Garden Island he was unsure whether the deal affected their leased property.
