Media Release 15 April 2024

Mulgowie Farming Company Portfolio offers an institutional-scale diversified agri-food portfolio opportunity

One of Australia’s most dynamic family-owned agricultural portfolios with a geographic footprint across three states has been brought to market, offering investment in an institutional-scale opportunity including an established global network of wholesale and retail customers and potential for further expansion.

The award-winning Mulgowie Farming Company Portfolio represents a vertically integrated value chain of predominantly fresh sweet corn and green beans. Production from the strategically located five prime farming aggregations along the eastern seaboard supply all central wholesale markets, national and international supermarkets.

Established by the Emerick family 70 years ago in Queensland’s fertile Lockyer Valley, Mulgowie Farming Company is now a leading Australian business, incorporating primary processing/grading, packaging, value adding, sales and marketing and distribution, with an extensive client base.

LAWD Senior Director, Danny Thomas, said the Portfolio presented investors an opportunity to secure a renowned agricultural powerhouse that supports multiple food and fibre products and brand narratives, and features agile, sustainable and regenerative production practices.

“Mulgowie Farming Company is an icon in Australian horticulture and operates under a commercial trading structure with a professional management team and complements its production with a scaleable network of growers in Queensland, New South Wales and Victoria,” Mr Thomas said.

“The Mulgowie logo is one of the most recognised brands in the country and the Portfolio’s current land and water resources exceed the existing processing footprint, meaning there are opportunities to expand into other key categories for year-round production.”

Strategically diversified

Geographically and climatically spread across northern and southern Queensland, northern New South Wales and south-east Victoria, Mulgowie Farming Company also grows baby corn, broccoli, capsicum and pumpkin on an opportunity basis and has successfully produced potatoes, onions, tomatoes, capsicums, cucurbits, brassicas, leafy greens, sugarcane, cotton, cereals, fodder crops, legumes, tree crops and livestock.

The Portfolio comprises 5,100 hectares, of which 3,100ha is developed to prime OptiSurface laser levelled irrigated cropping, including management of more than 400ha of organic land. Significant portions of the remaining land have potential for development.

Current combined water usage and storage across the Portfolio’s national network comprises 25,000ML, with expansion plans for an additional 7,000ML.

The company’s processing capacity of up to 90,000 tonnes per annum is supported by modern grading, sorting, packing, processing and value-adding facilities with associated cool rooms and refrigeration.

The Portfolio’s property holdings include:

  • The Mulgowie Aggregation of four non-contiguous properties within a three-kilometre radius, including 280ha with 163ha developed for irrigation and packaged fresh vegetable processing facilities. An additional 474ha of irrigation land is leased.
  • The Bowen Aggregation of 13 properties in North Queensland within an 11km radius, including 3,100ha with 1,600ha developed to sub-surface drip line, processing facilities, substantial water entitlements and plans including 4,300ML in additional water harvesting licenses.
  • The Home Hill Aggregation in North Queensland comprising two properties referred to as Kirknie Home Farm Aggregation and Ted Walsh Farm Aggregation, made up of 1,200ha, with 424ha developed to centre pivot irrigation, 75ha developed to sub-surface drip line irrigation, 327ha lateral move irrigation, 3,514ML of water allocations from the Burdekin Basin and 150ha earmarked for additional irrigation expansion.
  • The Glen Innes Aggregation of 245ha over three properties in northern NSW, including grading and processing facilities and 757ML of water licences.
  • The Boisdale Aggregation at Maffra in Victoria’s Gippsland region, featuring a modern processing equipment, 282ha with 183ha developed to centre pivot irrigation, and 2,271ML of water licences.

First-class irrigation infrastructure ensures a drought resistant production model, with farms serviced by centre pivot, lateral move and travelling irrigation overhead sprays, as well as laser levelled flood and sub-surface drip line.

The company’s national, multi award-winning ESG credentials are underpinned by well-established sustainable and regenerative farming practices, driving the company’s holistic approach of ‘Healthy Soil, Healthy Plants and Healthy People’ and genuine carbon potential.

LAWD will offer the Mulgowie Farming Company Portfolio for investment by Expression of Interest. An information memorandum and access to a data room will be provided to approved parties upon the execution of a Confidentiality Deed.

For further information contact LAWD Senior Director, Danny Thomas, on +61 439 349 977, LAWD Senior Director, Jaclyn Hope, on +61 424 596 858, or LAWD Director, Elizabeth Doyle, on +61 400 102 439.

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