QATAR-OWNED Hassad Australia has exchanged contracts to finalise the sale of several properties this year to fund a further investment in lamb and grain marketing and value-adding.
The company said this week it has entered into contracts for the sale of the 9782ha sheep breeding operation Raby at Warren in New South Wales and its South Australian properties – the 3263ha Glendale Aggregation near Burra and the 5008ha Ungarra Aggregation.
The 2098ha Cummins Aggregation on the Eyre Peninsula remains for sale with Elders Real Estate expecting a sale to be finalised before the end of 2017.
Hassad said 15 family operators will be acquiring individual parcels of land from all three aggregations which have been divided up. The sale of Raby was handled by Phil Rourke and Trevor Wilson from Landmark Harcourts, Ungarra was handled by Tom Russo and Darryn Johnston from Elders, whilst Danny Thomas and Phil Schell from CBRE were responsible for the Glendale sale.
Ater the planned sales, the company will said it will have nine aggregations remaining across NSW, Victoria and Western Australia, and remain a substantial player in the grain and sheep sector with about 65,000 ha of cropping and 85,000 ewes to be joined in 2018.
Hassad chief executive officer, John McKillop, said the divestment of the three properties, along with the earlier sales of Kaladbro in Victoria and Clover Downs in Queensland, were in preparation for the next phase of the company’s investment strategy that will see further investment in lamb and grain marketing.
“The new Hassad Australia leadership wants to redirect the business away from pure primary production to a strategic blend of both farming and investments across the lamb and grain supply chains,” Mr McKillop said.
Hassad Australia was established in 2009 as Hassad Food Company’s first overseas investment. It is an integral part of Hassad Food Company’s broader vision to become a global food provider by growing, processing and supplying high quality food under a brand of excellence.
Mr McKillop said the decision to refocus investments would bring local operations further into line with the parent company’s goals.
“The sale of these properties in no way represents any sort of withdrawal or downscale of Hassad’s investment in, or commitment to, the Australian agricultural sector which, as we know, is one of the strongest and most sought after in the world,” Mr McKillop said.
“However for our business, the future lies in a balanced portfolio including farm operations, value adding and the creation of a global export business capable of taking Australian food and fibre to the world.
“The sale of these properties will allow us to do that and to further diversify and strengthen our Australian operations, which is something we look forward to at this time of great opportunity for the production, processing and marketing of premium agricultural products,” Mr McKilliop said.
Source: Hassad Australia.