JV acquires major free-range poultry operation
One of Australia’s largest free-range broiler chicken farming operations has been bought by a joint venture between poultry infrastructure specialist Santrev and private investors.
Southern Cross Farms SA Pty Ltd, a large-scale poultry enterprise near Owen in South Australia’s Lower North, was sold following a Colliers Agribusiness campaign led by Jesse Manuel and Duncan McCulloch.
The transaction follows a 2024 attempt by a different agency to sell the aggregation, on four titles.
During that campaign, price expectations were over $20 million.
The operation entered voluntary administration mid-last year, with Glenn Franklin of accounting firm PKF appointed administrator.
The deal comes a year since we reported KKR-controlled ProTen bought the Somerset Poultry facility in Victoria’s Murgheboluc, able to rear 300,000 birds.
Not long earlier, Corval bought two farms with leasebacks to Cordina Group, in New South Wales.
Development upside
The Santrev JV is acquiring the business and associated assets.
The sale preserves the ongoing operation of the 206 hectare farm known as 85 Wandel Road, Owen.
The amalgamation comprises 29 climate-controlled free-range poultry sheds capable of rearing almost 950,000 birds per growing cycle.
All up, there is some 61,000 square metres of infrastructure, mostly developed in 2015 (continues below).
The improvements also include a 500kW solar installation and large-scale desalination plant and two standalone older-style brick homes.
The property is permitted for eight more sheds.
Next chapter for significant poultry farm
The operation has been progressively developed into a free-range broiler farm, with specialised sheds, water security infrastructure and renewable energy assets.
“Southern Cross Farms is one of the most significant poultry assets to transact in Australia in recent years,” Mr Manuel said.
“Its scale, high-quality infrastructure and strategic position within Australia’s poultry supply chain attracted strong interest from strategic buyers and investors throughout the campaign,” he added.
The Owen-based portfolio previously operated as a major supplier within Australia’s poultry supply chain, with its free-range production infrastructure supporting large-scale chicken production.
“This transaction reflects the strength of investor confidence in South Australia’s agribusiness sector and the long-term fundamentals underpinning Australia’s poultry industry,” Mr McCulloch said.
“The acquisition provides Santrev, which specialises in poultry infrastructure development, with ownership exposure to an operating agricultural enterprise while allowing the continued expansion of a strategically significant food production asset,” he added.
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