Farmer shareholders overwhelmingly approved the sale of half the company to the subsidiary of Chinese state-owned Bright Food in return for a NZ$261m capital injection.
The deal earns Change Capital 2.7 times the equity it invested in the scallop fishing company as Macduff's founders, the Beaton Family, also exited in a £98.4m deal.
The annual meat production of Brazil and Argentina, and 15m hectares of farmland, are needed to cater for increased Chinese demand for meat over the next decade.
The government is inviting international and domestic investors to make offers for 60,000 hectares of prime sugar- and rice-producing land in the southern agricultural region.