Premier WA citrus orchards hit the market

A major WA citrus grower has listed its portfolio for sale, while an embattled Riverland wine grower in administration is also selling its assets.

A major Western Australian citrus producer has listed their premier portfolio for sale, while a South Australian vineyard has also hit the market in a pair of separate multimillion dollar offerings.

Western Australia’s largest citrus producer Moora Citrus Group is selling its 341ha portfolio, primarily located at Prices Rd, Dandaragan, about 200km north of Perth in the state’s wheatbelt region.

The portfolio, which includes multiple orchards, packing facilities and significant water entitlements, could reportedly receive offers worth about $25-$30 million.

Moora Citrus is a fully integrated business producing orange, mandarin and lemon varieties for domestic and export production including Washington Navel, Midknight Valencia, Lanes, Late Navel, Imperial Mandarin, Afourer Mandarin and Eureka Lemons.

The Moora Citrus Group is selling its portfolio of assets, located 200km north of Perth in the state’s wheatbelt region at Dandaragan, WA.

Established in 2006, the orchard was developed by prominent WA farmers Sue Middleton and Michael Brennan who discovered an underground water supply on a sheep property in Moora.

Equity partners the Gillon Group then backed the Moora Citrus Group expansion.

Included in the portfolio are the Moora Citrus Orchard, with its 341ha developed and planted to 213ha of citrus, and the Northern Valley Packers, a state-of-the-art 6934 sqm packing facility and more than 3400ML in groundwater licences.

Moora Citrus Group produce a wide range of citrus varieties including Nectar Mandarin, Imperial Mandarin and Afourer Mandarins.

There is also the Sandgroper Fruits Orchard, a 91ha orchard planted to 66ha of citrus, via a long-term lease with Melbourne-based Warakirri Asset Management.

Colliers Agribusiness national director Duncan McCulloch and Rawdon Briggs are handling the sale with expressions of interest closing May 30, at 1pm (AWST).

“The opportunity provides the astute investor to acquire a fully integrated business, specialising in the growing of high-quality citrus, inclusive of a modern state-of-the-art purpose-built packing facility, dedicated to the grading, packing, marketing and distribution of produce, throughout Western Australia and offshore,” Mr McCulloch said.

Meanwhile in South Australia, the Salena Estate Wines portfolio of assets, has been listed for sale after falling into administration earlier this year.

Salena Wine Estate, at Bookpurnong, in SA’s Riverland region, is for sale after the company fell into administration.

No price guide has been made available.

Established by the Franchitto family in 1998, Salena Estate Wines produced about 10,000 tonnes of predominantly red wine annually, but in February administrators Tim Mableson and Ryan Eagle from KPMG were appointed to take control of the company.

Two months on, Elders Real Estate and Woodbridge Iles are marketing the company and its assets, including 185ha of planted vineyards and some certified organic grape production, at Bookpurnong, in SA’s Riverland region.

Salena Estate Wines’ modern winery with 15,000 tonnes of processing capacity, 17 million litres of storage capacity as well as a fully equipped laboratory, bottling and packing line, commercial distillery and their modern restaurant and cellar door are also for sale.

“The Salena Estate Wine business is a vertically integrated enterprise of scale that has been established to a corporate standard,” Elders executive general manager network Tom Russo said.

“It will be of interest to a range of both local, institutional and offshore buyers.

“The sale process is being undertaken during a pivotal time for the industry given the recent announcement that China has reversed its punitive tariffs on Australian wine.

“To put things into perspective, the Australian wine industry lost a $1.4 billion export market overnight and now has the opportunity to reinstate its position as a preferred supplier to consumers within that vast market.”

Expressions of interest for the Salena Estate Wine assets and business close on May 24.