LIHUE — The vice president of Grove Farm Company Inc. in Lihue couldn’t comment on a recent report that the company sold thousands of acres of property to one of the largest private landowners in the United States.
A Pacific Business News article Friday said Tennessee billionaire Brad Kelley purchased “thousands of acres” of agricultural land in the Puhi area just past Kipu Road.
Marissa Sandblom, Grove Farm vice president, said she couldn’t talk about a potential land sale, but that she was “disappointed” the article reported the transaction without verification.
“We’re not able to confirm anything at this time,” Sandblom said Monday.
The article cited unnamed sources that the deal was done. Sandblom couldn’t say whether the company, which owns 40,000 acres on Kauai according to its website, was looking to sell any of its land.
The company announced in the fall that it’s teaming with Ulupono Initiative, owned by eBay founder Pierre Omidyar, to form Hawaii Dairy Farms. Ulupono Initiative is investing $17.5 million in the grass-fed dairy that will be located on Kauai.
The PBN article said that billionaire Brad Kelley, one of the largest private landowners in the United States with more than 1.5 million acres of ranch lands in Kentucky, Tennessee, New Mexico, Florida and Texas, recently made the purchase for agricultural land on the Garden Isle.
With a net worth of $2 billion, Forbes ranked Kelley as No. 273 on its Forbes 400 list.
Kelley’s profile on the list said he paid nearly $80 million for travel guide publisher Lonely Planet in March.
A farmer’s son, 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 profile states.
Kelley could not be reached for comment.
Grove Farm, according to its website, is changing its focus toward management of its prime holdings on Kauai, “enhancing its land and water resources to meet Kauai’s housing needs and promoting diversified agriculture.”
“In its transition from a sugar plantation to a sustainable community development and economic development firm, Grove Farm continues to maintain its keen focus and commitment to Kauai,” it states.
