Early dairy factories are significant for the important role they played in the economic development of New Zealand in the latter part of the 19th century. The Geraldine Co-operative Dairy Company's factory was built in 1884 and is the oldest existing dairy factory in New Zealand.

An enterprising group of local Geraldine farmers decided to build a dairy factory on a co-operative basis. They chose land at Pleasant Valley for their building which is reputed to be constructed following a Canadian plan, provided earlier for use by Mr. John Grigg of Longbeach. At the time this plan was considered to be the most up to date in the South Island. During the 1890s with the dramatic rise in the number of new factories, the Department of Agriculture (1892) issued a free set of plans and specifications for both cheese and butter factories as well as creameries to anyone interested. However, in 1884 the Geraldine group had to fend for themselves.

The building is constructed of basalt with limestone dressings, making use of materials available in the vicinity. The result was a handsome building which differs from the usual butter and cheese factories of that era, which were commonly built of wood. (Later, the main material used was concrete as it could be easily hosed down for cleanliness.) In the "Memorandum of Association" under which the Co-op. was established, it was stated that a training school of animal and dairy husbandry would be formed, but this was not achieved.

The name of the factory, "The Geraldine Cheese, Butter and Bacon Factory", indicates the differing products that were manufactured here. Mr. A. Twigg, newly arrived from England with a reputation as an expert in the field, served as the first manager. For a number of years the factory flourished and then production declined leading to the operation ceasing. In 1904 dairy farming revived and a new larger co-operative project began as the South Canterbury Co-op. Dairy Company, with the registered trademark, Filbert "Sweet as a nut". Focussing chiefly on butter production, they built a butter factory in Timaru and creameries (skimming stations) were built to serve the various districts. The existing building at Pleasant Valley was purchased and reopened as a creamery in 1906 with Mr. J. M. Craig as manager.

In later years the factory was owned by the Geraldine Co-op. Dairy Factory, making cheese until its closure in 1959. Now in private ownership, it has served as a home and had various functions. Apart from some problems with leakages it is in very good structural condition.