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Isle group
purchases
Hana Ranch

Its executive committee
has members active with
conservation groups

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Star-Bulletin staff

The Hana Ranch, a 4,500-acre spread on Maui, has been sold to a partnership run by executives with conservation backgrounds.

Meridian Financial Resources, a Chicago-based investment company, today said it sold its Hana ranching operations to Hana Acquisition Partners LLC, whose executive committee includes members active with conservation-type environmental groups.

A purchase price was not disclosed.

"We are very pleased to place the Hana Ranch lands into such capable and environmentally conscious hands," Mark Ward, Meridian's managing partner, said in a statement.

Hana Acquisition said in a statement that all Hana Ranch employees will be retained. It also said its immediate focus will be on maintainence that has been deferred on the cattle ranching operation.

Meridian purchased the ranch and Hotel Hana-Maui in 1999. The hotel was not included in the sale.

Meridian said it will maintain a close relationship with the ranch's new owners and will retain specific use rights so ranch activities for hotel guests can continue.