An Alberta investment firm and its Australian investment partner have acquired a nearly 3 million hectare cattle portfolio in Western Australia.
The Kimberly Cattle Portfolio “is an established and well-managed asset that provides important diversification in our client portfolios,” said Ben Hawkins, executive managing director at the Alberta Investment Management Corporation (AIMCo), in a Nov. 28 news release.
AIMCo invests globally on behalf of pension, endowment, insurance, and government funds in Alberta.
AIMCo partnered with Australian agriculture investment management firm New Agriculture on the deal. It followed a public tender process and is subject to regulatory approvals, the release said.
Read Also
U.S. livestock: Cattle strength continues
Cattle futures on the Chicago Mercantile Exchange were stronger on Friday, hitting fresh highs to end the week.
The portfolio consists of Yougawalla Pastoral Co and Argyle Cattle Co. It’s a large-scale cattle breeding business spanning nearly 3 million hectares (7.4 million acres) or largely leased land in the Kimberly region of Western Australia, AIMCo said in the news release.
AIMCo previously acquired Australian mixed farming business Lawson Grains in January of 2022. The corporate grain operation farms over 90,000 hectares (a bit more than 222,000 acres), according to the company’s website.
Haydn and Jane Sale are staying on as managers of the portfolio, the release said.
Haydn Sale told Australian media that AIMCo is planning to expand on natural assets, like approval for nearly 500 hectares (1236 acres) of irrigation, and frontage on a few major water sources.
“Ensuring we can grow fodder to further value-add cattle has been a big key focus for us and the new buyers coming in really saw that as a big upside for the business,” he told the Australian Broadcasting Corporation (ABC).
“They’re very much behind getting that development done,” Sale added.
AIMCo bought the portfolio from Hong Kong property developer Hui Wing Mau, according to the Nov. 29 ABC report.
—Geralyn Wichers is associate digital editor of AGCanada.com. She writes from southeastern Manitoba.
