Aussie company with Bourke interests buys Auscott giant
Local farming entity, Australian Food and Fibre, has purchased Australian cotton growing giant, Auscott, in one of the biggest farming deals of 2021.
Australian Food & Fibre (AFF), owned by the Robinson family, farms cotton and grains on Darling Farms, Janbeth and Carbuu at Bourke, and has other significant farming interests in the Moree and Border Rivers regions.
The purchase is significant because an Australian company is buying a large slice of the local Australian cotton industry previously held by US interests.
To fund the massive deal, Australian Food & Fibre brought in Canada’s Public Sector Pension Investment Board (PSP) as an equity partner.
Although the purchase price is confidential, the Auscott assets – including 22,000 hectares of developed irrigation land and 143,000 megalitres of water entitlements – were put up for sale last year with a price tag of more than $500 million.
This deal follows the AFF acquisition of Auscott’s Midkin cotton assets at Moree for around $300 million two years ago.
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