Farmers accepting of Silver Fern merger

Farmers accepting of Silver Fern merger

New Zealand's biggest meat company is now half-owned by a Chinese company and it is promising to create new jobs and more markets.

Following the collapse of farmer opposition, the deal between Silver Fern and Shanghai Maling is set to go ahead.

Farmers usually go to the Forsyth Barr stadium to watch rugby, but today it was to vote on the future of their meat processing company.

It was an emphatic victory for those who wanted the merger with Shanghai Maling, and the proposition roped in 82 percent favour.

Shanghai Maling will now invest $261 million in getting rid of Silver Fern Farms' on-going debt problem.

Allan Richardson, a West Otago farmer who campaigned against the venture, accepted the vote and says he'll now back the company.

"[I'm] disappointed, but the farmers have spoken and overwhelmingly supported this and now we need to embrace that change."

Watch the video for the full 3 News report.