Who owns 25+ of Tasmania’s biggest farming operations

A number of Tasmanian farms are part of multimillion-dollar portfolios by domestic and foreign investors, including one of the biggest deals in the nation’s history worth more than $850M. LIST OF WHO OWNS TASSIE FARMS >>

UNCERTAINTY about the global economy and trade seems to be doing little to slow the investment pouring in to Australian agriculture, with a number of Tasmanian farms included in multimillion-dollar portfolios.

The Weekly Times’ annual investigation into Who Owns Australia’s Farms shows both foreign and domestic investors are looking beyond the current coronavirus crisis, snapping up valuable farming as agriculture positions itself well as a producer of staple products.

The investigation found that when it comes to value, Canada’s Public Sector Pension Investments is the single biggest investors in Australian agriculture with a land and water portfolio valued at more than $3 billion.

READ MORE:

• Who owns Australia’s farms — the full list
• Aussie farms: Top 20 investors by value

PSP — which manages the superannuation of Canada’s famed mounted police force among others — has become a major force on the Australian farming landscape in recent years.

In the past year alone it has been involved in two of the biggest deals in the nation’s history, each worth more than $850 million.

Webster's Swansea Orchard.

In February 2020, PSP finalised its $854 million takeover of the ASX-listed Webster Limited – Australia’s fourth-oldest company and one of the nation’s biggest landholders with 340,000 hectares and 153,000 megalitres of water.

Its Swansea Orchard is just one of its 10 operations.

Another Tasmanian interest featured among the top 20 investors in Australian agriculture by value in 2020, according to AgJournal.

North Australian Pastoral Company came in at number 8, with an estimated investment value of $650 million-plus.

NAPCO is majority owned by the Queensland Government-backed Queensland Investment Corporation, which paid $400 million for a 79 per cent stake in 2016.

Tasmania’s Foster family, which first bought in to NAPCO in 1937, owns the remaining 21 per cent.

The purchase of the 135,000-hectare Mantuan Downs Station in central Queensland earlier this year has taken the North Australian Pastoral Company’s investments in farmland to more than six million hectares worth about $650 million.

Who owns Tasmanian farms?

AAAW GROUP – AUSTRALIA AULONG AUNIU WANG GROUP (CHINA)

Owned by large Chinese retailer Dashang Group which operates department stores and supermarkets.

• Calthorpe Orchard, Sidmouth TAS – 94 hectares of established cherry, apple and pear trees

• Millers Orchard, Hillwood TAS – 30 hectares of established cherry, apple and pear trees. Purchased in 2017.

Top-Qual's Calthorpe orchard at Sidmouth, West Tamar

COSTA GROUP

Australia’s largest grower, packer and marketer of fresh fruit and vegetables. Founded by the Costa family of Geelong. Listed on the ASX, it has property, plant and equipment valued at $498 million. Its Tasmanian interests include:

• Dunorlan Berry Farm, Dunorlan TAS.

• East Devonport Berry Farm, East Devonport TAS.

• Lebrina Berry Farm, Lebrina TAS.

• Wesley Vale Berry Farm, Wesley Vale TAS.

INDIGENOUS LAND CORPORATION

Runs about 66,000 cattle and 9800 sheep on 2.15 million hectares of farms across Australia. Its Tasmanian interests include:

• Murrayfield, TAS.

A dairy herd at Smithton. PICTURE CHRIS KIDD

LAGUNA BAY PASTORAL COMPANY

Has significant interests in Australian farming assets. Through its major backer, Swiss funds manager Adveq Almond Trust, sold the Australia’s biggest almond portfolio at Robinvale in northern Victoria late last year to Canada’s Public Sector Pension Investment Board. Also owns:

• Tasmanian dairy aggregation, Smithton TAS. Eight dairy farms. Purchased in 2018 for more than $80 million.

MOONLAKE INVESTMENTS (CHINA)

Backed by Chinese businessman Lu Xianfeng. It owns:

• VDL Farms (formerly Van Diemen’s Land Company), Cape Grim TAS – 17,800 hectares. Australia’s biggest dairy. Purchased in 2016.

ONE TREE AGRICULTURE-PROTERRA INVESTMENT PARTNERS

Spin off of Cargill’s Black River Asset Management, Sold the 7350-hectare Kinbeachie aggregation in January 2019. Its Tasmanian interest includes:

• Vaucluse, Conara TAS – 2654 hectares. Purchased in 2015.

Calthorpe orchard at Sidmouth, West Tamar, an example of the new Jazz apple variety

PSP INVESTMENTS (CANADA)

– WEBSTER (100%)/KOOBACO (49.9%)

In February 2020 finalised its $854 million takeover of the ASX-listed Webster Limited – Australia’s fourth-oldest company and one of the nation’s biggest landholders with 340,000 hectares and 153,000 megalitres of water. Its Tasmanian interest includes:

• Swansea Orchard, Swansea TAS.

ALAN PYE (NEW ZEALAND)

One of New Zealand’s richest farmers, having made his fortune in potatoes.

• Rushy Lagoon, Red Hills and East Wyambie TAS – 22,000 hectares running 4000 dairy cows, 8000 beef cattle and 7000 sheep. Purchased in 1997. Listed for sale with expectations of about $70 million.

TRT PASTORAL GROUP

Owned by Melbourne businessman Tim Roberts-Thompson. Sold the 33,700-hectare Juanbung Station near Hay NSW in 2019 for about $60 million. Its Tasmanian interests include:

• Boongara, Dinibili, Longford and Reekara Park, King Island TAS – 6785 hectares. Purchased in 2017 for $45 million.

WAVERLEY STATION

Owned by Sydney businessman Michael Crouch. Runs a herd of about 30,000 Angus cattle on about 24,300 hectares. Interests include:

• Waverley Station, Gunnedah NSW.

• Waverley Station, King Island TAS.

• Waverley Station, Scone NSW.