Lawson Grains to purchase Jemalong Station in $85 million deal

A Canadian-backed corporate farming giant will purchase a massive farm in central west NSW for about $85 million. See the details.

The highly regarded 13,498ha Jemalong Station, located near Forbes in central west NSW, is set to change hands for the second time in five years with a top dollar deal close to approval.

One of the biggest corporate grain farmers in Australia, Lawson Grains, has purchased Jemalong Station in a deal with Dutch agricultural investors Optifarm, subject to FIRB approval.

The deal remains subject to confidentiality arrangements, but it is understood to be worth about $85 million.

There was 2580ML of Upper Lachlan Alluvial groundwater and 1134ML of Lachlan River General Security Water delivered via the Jemalong Irrigation Scheme offered with the property when it was listed for sale in February this year.

Lawson Grains were contacted but declined to comment on the deal.

Lawson Grains, backed by Sydney-based global forestry investment manager New Forests and Canada’s Alberta Investment Management Corporation, will add Jemalong Station to its immense agricultural portfolio, which includes more than 105,000ha of cropping land across 70 properties in NSW and WA.

Netherlands-based Optifarm have sold the 13,498ha Jemalong Station to Lawson Grains, subject to FIRB approval.

Including the acquisition of Jemalong Station, Lawson Grains has purchased more than $120 million worth of Australian farmland so far this year, paying almost $40 million in April for the Macneil family’s 2860ha Green Park aggregation at Rand in the NSW Riverina.

Lawson Grains acquired Green Park to run alongside its neighbouring 8255ha Borambil Aggregation, purchased in 2013.

New Forests and Alberta Investment Management Corporation purchased the massive Lawson Grains portfolio from Macquarie Agriculture in late 2021 for more than $550 million.

Optifarm had owned Jemalong Station since acquiring it in 2018 from the Kahlbetzer family’s Twynam Agricultural Group.

Jemalong Station has been used for various cropping pursuits as well as beef cattle, wool and lamb production.

In recent seasons Jemalong Station has produced cotton, winter cereals, oilseeds, and fodder crops alongside beef cattle, wool and lamb production.

With current land developments and irrigation infrastructure, cotton yields have reached about 12 bales a hectare, 6t a hectare for wheat and 2.5t a hectare for canola.

LAWD senior director Danny Thomas and director Ian Robertson handled the sale of Jemalong Station, but did not comment on the transaction.

Optifarm’s sale of Jemalong Station comes after it sold its other flagship Australian agricultural asset, the 14,916ha Gundaline Station, located at Carrathool in northern Riverina for $120 million early this year.

Chinese textiles company Smart Shirts Limited purchased Gundaline Station.