Steinhardt family’s Macadamia Australia sells in nine-figure deal

A prolific Bundaberg farming family has sold its home-grown macadamia empire in a nine-figure deal after growing the business with shop fronts, cafes and tours.

The Macadamias Australia visitors centre was one of the latest expansions by the business, which serves as a tourism hot spot for the region.

The Steinhardt family has every intention of keeping their fingers in the macadamia pie after selling a majority of its business to a giant Canadian superannuation fund.

Public Sector Pension Investments’ agribusiness venture Stahmann Webster purchased Macadamia Australia’s more than 1000ha of planted orchards and vacant land in a nine-figure deal.

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State-of-the-art processing facilities were also included in the reported more than $100m deal.

Stahmann Webster is no stranger to the Bundaberg macadamia industry, after purchasing orchards and processing facilities worth $854m in 2019.

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Macadamias Australia director Janelle Gerry said they intended to continue their work in the industry.

Lisa Steinhardt, Andrew Gerry, Trevor Steinhardt, Janelle Gerry and Kevin Steinhardt say the family will continue to work in the macadamia industry despite a huge sale.

“We have invested heavily in growing the value add and tourism aspect of the business and are passionate about the industry and telling the story of macadamias, and that will be continued by the family,” she said.

“We are very positive about the future of the industry and the known health benefits of macadamias and other tree nuts, which is why we want to stay closely involved and have retained a number of business units.”

It is understood many of the key Steinhardt family members will retain their positions within the company.

Trevor Steinhardt will continue to own and operate Happy Nut and Kevin Steinhardt will remain as a farming operations consultant.

Janelle Gerry (nee Steinhardt) and her husband Andrew, will continue to focus on the value-adding facility, providing Macadamias Australia branded retail products, cafe, tourism enterprises and the Farmfresh Fine Foods vegetable processing facility.

Sophie Steinhardt checks out some of the tasty treats at the Macadamias Australia visitor centre in Bundaberg. Picture: Adam Head

It’s understood the sale won’t affect employees or grower contracts, with roles offered in the combined businesses and existing contracts to roll over.

The Steinhardts have been a Bundaberg institution since the late 1950s when they began growing pumpkin, tomato and zucchini crops.

The family made the shift to macadamias in 2002 with the establishment of Macadamias Australia, and the planting of 128,000 macadamia trees.

From there the business boomed into the industry giant it is today, with shop fronts, cafes and tours.