British Investor to buy CPC for $600m
Consolidated Pastoral Company (CPC), a leading Australian agribusiness, confirms that a consortium led by Guy Hands and his family along with the management of CPC are progressing a proposal to acquire the company. The deal is reportedly worth more than $600 million. The Hands family will provide a cornerstone commitment and invest alongside CPC management. Other investors will be invited to participate in the buyout.
The Hands family believes CPC provides a unique and compelling generational wealth creation opportunity through exposure to Australian agriculture. They are delighted to be partnering with the management team of CPC to invest in the business having worked together for many years.
CPC is the largest private cattle company in Australia, with 3.2 million hectares of land and a carrying capacity of circa 300,000 head of cattle as well as vertical integration into two feedlots in Indonesia.
Commenting on the announcement, Guy Hands said: “CPC is a high quality, well run business with a strong position in a large and growing industry. Its operations are close to major beef-consuming markets. I am personally very excited about the future of CPC and delighted to be partnering with the management team of CPC.”
Troy Setter, Chief Executive of CPC, added: “This is a great outcome for CPC. Long-term, patient capital will enable us to continue to invest in our people, our land and our cattle which will not only benefit CPC but the broader agricultural industry in Australia. I look forward to continuing to work with the Hands family, our team and our local communities to build on the great business we have today well into the future.”
