Operators trade $196m feedlot
Privately owned processor Australian Meat Group has agreed to acquire the Killara Feedlot near Quirindi in north-west New South Wales from listed agribusiness Elders Limited for $195.8 million.
The land and fixed assets are being bought for $122m.
The working capital, predominantly livestock, comprises the balance ($73.8m).
The deal is subject to approval from the Foreign Investment Review Board and the Australian Competition and Consumer Commission, with completion targeted by June 30.
Both figures are unaudited and will be finalised if the sale is to complete.
Elders was advised by Kidder Williams Limited (continues below).
Killara Feedlot
Spanning 1402 hectares in the Liverpool Plains, Killara has capacity to turn around 62,000 head of cattle a year, supplying grain-fed and grass-finished beef to domestic and export customers.
Elders said the sale would release capital and sharpen its focus on core agency, retail and financial services operations.
For AMG, which operates processing facilities in New South Wales and Victoria, the acquisition secures upstream supply and expands its footprint in grain-fed production.
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