Police say about 216kg of methamphetamine, about $100,000 in cash, firearms and vehicles have been seized in a drug bust in Waikato.
"Operation Ali" focused on a group of people from New Zealand and Australia, and police said that a number of search warrant were carried out in Waikato and Bay of Plenty this week.
Three men have been arrested aged 38, 40 and 47 - the 47-year-old is an Australian national.
Police say the methamphetamine haul had an estimated street value of $86.4 million.
Two of the men appeared in the Hamilton District Court yesterday afternoon.
The 40-year-old man is due to appear in the Rotorua District Court today.
Detective Inspector Paul Newman of Police's National Organised Crime Group said they are now seizing more meth in New Zealand than ever before.
"Since July, Police and Customs have seized more than a tonne of methamphetamine around the country," he said.
"That overall figure is an extremely significant amount and represents well over a year's worth of supply nationwide.
"According to wastewater analysis figures, this particular seizure as part of Operation Ali would have equated to around four months’ worth of supply nationally."
Two of the men appeared in court yesterday, while the third was due to face court today.