Saputo holds mortgage on Gray Wigg dairy farms at Nambrok, Winnindoo for sale
Saputo Dairy Australia holds a mortgage on at least one of the farms listed for sale last week by the well-known Gippsland company Gray Wigg. See all the details here.
A PORTFOLIO of dairy farms owned by the well-known Gippsland company Gray Wigg were listed for sale last week – and it can now be revealed Saputo Dairy Australia holds a mortgage on at least one of the farms.
The farms, located at Nambrok and Winnindoo in Gippsland’s Macalister Irrigation District, span 2513ha, including 2395ha freehold and 118ha leasehold.
Land data titles show the properties are owned by Gray Wigg Pty Ltd, which is run by Patrick Gray, a Gippsland trucking contractor, and local Lachlan Wigg.
The Weekly Times can also reveal the title shows Saputo Dairy Australia holds a mortgage on at least one of the Gray Wigg properties. The Canadian dairy giant took out the mortgage in June 2015 — a year after it bought Warrnambool Cheese and Butter but more than two years before it purchased Murray Goulburn.
Gray Wigg were major suppliers to Murray Goulburn’s Maffra factory and continued to supply Saputo.
Saputo would not say why it holds the mortgage on at least one of the Gray Wigg properties or if it had anything to do with the property being listed for sale.
According to the listing by agent CBRE, the combined Gray Wigg farms currently milk about 5000 cows.
This would make it one of the biggest dairy operations in Australia.
The farms are for sale by expressions of interest closing September 25, and a price is yet to be disclosed.
CBRE says the portfolio of farms feature highly reliable irrigation water, improved pastures and excellent operational infrastructure.
The Gray Wigg Nambrok dairy farms are 1690ha in size, comprising 757ha of centre pivot irrigation, 568ha of flood irrigation and 115ha of dryland production. The is inclusive of 118ha of leasehold land.
The Gray Wigg Winnindoo dairy farms are 823ha in size comprising of 334ha of centre pivot irrigation, 344ha of flood irrigation and 56ha of dryland production.
There are 11 dairies on the properties as well as multiple dwellings and rural shedding.
It is not know if this offering comprise the total Gray Wigg dairy farms in the Macalister Irrigation District.
The Weekly Times reported at the end of 2014 that Mr Gray and Mr Wigg had purchased five neighbouring dairy farms at Nambrok, spanning 700ha, for about $13 million.
In May this year The Weekly Times reported a transport company linked to Gray Wigg was under a Dairy Food Safe Victoria investigation for alleged contamination of milk carted from Saputo’s Leongatha factory.
In September last year, the 2051ha Torrumbarry Estate dairy operation, west of Echuca, which milked about 1100 cows, sold for about $20 million
Mr Gray did not respond to requests for comment.
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