Roc-backed Precision buys Riverina broiler farm portfolio
Precision Poultry, an investment vehicle established by Roc Partners, has acquired the VOAG broiler farming enterprise near Griffith.
The Riverina poultry portfolio, assembled over just over a decade in Tabbita, carried $100 million-plus price hopes when it was listed last year.
The vendor was Victorian businessman Robert Vojtkiv.
The deal involved both the operating business and the underlying freehold held across multiple VOAG entities.
Colliers’ Jesse Manuel and Duncan McCulloch were the agents.
The deal comes a fortnight since realestatesource.com.au reported Santrev’s joint venture acquisition of Southern Cross Farms SA, a 206-hectare free-range broiler operation near Owen in South Australia.
Also recently ProTen purchased Somerset Poultry at Murgheboluc in Victoria, while Corval bought two NSW farms leased to Cordina Group.
Farm fattened and sold
Mr Vojtkiv started VOAG in 2015 with eight broiler sheds before expanding to 40 within three years and reaching 80 sheds by 2022.
It operates across five self-contained farms known collectively as The Ranch Poultry Production Complex – across Ranch Road and Back Hillston Road.
The sale includes production infrastructure, on-site accommodation and support facilities.
The property operates under a long-term growing arrangement with Baiada.
It was offered permit-ready for 31 more sheds.
Roc enters NSW
The ACCC cleared the deal in June concluding that because Precision’s operations are in Victoria and VOAG’s are in New South Wales, it was unlikely to substantially lessen competition (continues below).
VOAG is Roc Partners’ maiden NSW investment.
The acquisition also continues Roc Partners’ expansion in intensive agriculture; the private equity manager was last year among bidders for poultry producer ProTen, which eventually sold to KKR for c$1.3 billion.
“VOAG attracted strong interest throughout the campaign, reflecting continued demand for large-scale agricultural assets with proven operating performance, modern infrastructure and secure long-term production,” Mr McCulloch said.
“Opportunities of this scale are exceptionally uncommon in Australia’s poultry sector. Buyers recognised not only the quality of the existing operation but also the significant barriers to developing an asset of this size in today’s market,” he added.
The site is near a 26,770ha holding Excel Farms bought in 2023 for $98.7m.
VOAG broiler
Broiler farms raise chickens for meat – day-old chicks are usually delivered before being grown over a 35-50 day production cycle.
Processors like Baiada or Ingham typically supply the birds, feed and veterinary support.
Spanning more than 212ha with over 245,000 square metres of production area, VOAG can produce more than 5.2 million birds per batch cycle.
“Replacement cost has become a defining factor for investors. Rising construction costs, longer approval timeframes and increasingly complex regulatory requirements mean assets of this scale are becoming progressively more difficult to replicate,” Mr Manuel said.
“The poultry sector continues to attract sophisticated investors because it combines long-term demand fundamentals with contracted income, proven operating models and significant barriers to entry,” he added.
“This transaction reinforces confidence in Australia’s food production sector and the long-term investment outlook for high-quality agricultural assets,” according to the executive.
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