S. Kidman & Co has confirmed the sale of four of its property holdings in northern Australia is now complete.
Appleton Cattle Company has acquired Durrie, Naryilco and Glengyle Stations in Queensland's Channel Country, adding to its already significant beef production interests in eastern Australia, while Brunchilly Station (including Banka Banka East) in the Northern Territory has been acquired by the Harris family.
In a statement released on Tuesday, S. Kidman & Co said the sale of the four properties was consistent with its strategy of divesting properties where significant investment has improved them by focusing on essential maintenance and specific areas including improved animal welfare and employee safety, the use of technology and innovation, and improvements across the herds.
"The continued focus on animal welfare and the philosophy that 'happy, healthy cattle are the best cattle' has driven a change in the culture across the business," the statement said.
"Improvements in the productivity and condition of the stations, including developing and expanding water
infrastructure, invaluable during droughts and long musters, improved employee safety and cattle handling
equipment, shading for cattle and horses, and investing in widespread extensive communication networks to aid staff communication and data collection and analysis, and very useful for employee safety.
"This investment is reflective of the approach across all of Hancock Agriculture’s properties, bringing the benefit of investment into Australian agriculture."
The purchase price and specific terms for each sale remains confidential. The sales have received all necessary statutory approvals and have settled, with formal handover to the new owners having just occurred.
S. Kidman & Co, which is a joint venture between Hancock Agriculture and CRED Pastoral, will continue to operate its remaining stations located in the Northern Territory and Queensland to produce high-quality beef products and remain committed to preserving the Kidman legacy and history.
S. Kidman & Co will further focus on expanding its grain-fed Santa Gertrudis and Kidman Premium beef brands, which utilise a combination of Santa and Wagyu genetics and which are served both domestically and internationally in many premium restaurants.
The sale of these stations will assist in providing further capital to focus on purchasing and improving other
properties for S. Kidman & Co’s agricultural operations.
Hancock Agriculture remains committed to Australian agriculture and intends to retain and grow its remaining
substantial portfolio, which includes operations in Queensland, New South Wales, Western Australia and the Northern Territory.