Australia's No.2 beef producer is for sale
Hancock Agriculture and S. Kidman & Co are looking to sell their cattle farming and beef operation as the owner of Hancock Agriculture and major shareholder of S. Kidman & Co, Australian billionaire Gina Rinehart announced she intends "to complete its investment cycle and focus on other areas of growth in its agricultural operations.”
The deal includes seven cattle stations across Western Australia and the Northern Territory, with 1.9 million ha, along with a cattle herd of about 108,000 head. The portfolio also includes a strategically located feeding and export facility and farming operation.
Real estate specialist Elders was hired to market the portfolio owned by Hancock Agriculture and will consider offers for all or part of the property.
“This represents a rare opportunity to acquire a strategically constructed portfolio of assets at scale during a period of unprecedented growth in demand for quality Australian protein,” commented Tom Russo, Elders’ general manager for real estate, in a press release.
Hancock Agriculture is the second-largest beef producer in Australia and has invested large amounts of money to improve assets such as water storage, distribution infrastructure, herd quality, animal welfare conditions, employee safety, etc. Currently, beef prices in Australia are supported by a chronic supply shortage, with herd sizes near their lowest since the early 1990s. Also, demand for Australian beef in export markets is increasing as the global economy seems to recover from the Covid-19 pandemic.
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