Elders Ltd (ASX: ELD) confirms that Jumbuck Pastoral and the ATAYF group of companies (the private investment vehicle of Adelaide businessman Professor Khalil (Charlie) Shahin AO), have entered into an agreement for the sale and purchase of the Jumbuck North West Pastoral Aggregation.
Drone view across Commonwealth Hill homestead at daybreak
The aggregation is considered to be the largest contiguous sheep station in the world and comprises:
- Commonwealth Hill Station: 553,100 hectares
- Mobella Station: 426,600 hectares
- Bulgunnia Station: 310,000 hectares.
Located within South Australia's north-west pastoral region, the aggregation supports a large-scale self-replacing Merino enterprise that is regarded as an iconic powerhouse of wool and sheep meat production of global significance. Together the stations have a combined prescribed capacity to carry over 83,300 sheep.
The sale follows Jumbuck Pastoral's previously announced succession planning process and the transaction marks the transfer of stewardship of a remarkable pastoral enterprise from one proud South Australian family to another.
For more than a century, the MacLachlan family has built one of Australia's most respected pastoral businesses, establishing a legacy of long-term investment, environmental stewardship and sheep production excellence. The acquisition by ATAYF will see those assets continue under the ownership of a South Australian family with equally deep roots in enterprise building, long-term thinking and generational investment.
ATAYF holds a diversified portfolio of investments, including an expanding agricultural enterprise. Existing pastoral assets include the 408,000 hectare Aileron cattle station in the Northern Territory, and related irrigated Oolloo farm that supports fodder and seed production for that station.
No sale price will be disclosed. Read on for comments on the transaction.
Tom Russo, CEO – Elders Real Estate:
"This was one of the most significant sheep and wool production opportunities ever offered to the Australian market and we received interest from a broad range of domestic and international investors."
"It is tremendously encouraging to see a family of this calibre making such a significant investment in the Australian sheep and wool industry."
"The level of interest we saw throughout the campaign reinforces the confidence sophisticated investors have in the long-term outlook for Australian fibre and protein production."
"Australia's sheep industry remains one of the nation's great agricultural success stories. To see substantial new capital being committed to the sector at this scale is a strong endorsement of its future and of the opportunities that exist in regional Australia."
Callum MacLachlan, Jumbuck Pastoral:
"These stations have formed an important part of our family's story for many decades and the decision to part with them was not made lightly."
"Throughout the sale process it was important to us that the aggregation passed to an owner who understood the significance of the assets, respected the work of the people who have managed them and shared our belief in the future of Australian agriculture."
"We have come to know Charlie and his family through this process and believe they will be excellent custodians of the aggregation. Their commitment to long-term investment, family values and Australian agriculture gives us great confidence that these stations have a bright future ahead of them."
"While this transaction represents the end of one chapter, we are pleased that the next chapter will be written by another South Australian family with a genuine passion for the land and a multi-generational perspective."
Charlie Shahin AO, Chairman of ATAYF:
"Owning and working with agricultural assets has been a lifelong ambition of mine. Agriculture sits at the heart of Australia's identity and I have always believed there are few opportunities more meaningful than investing in the land that produces food and fibre for the world."
"The Jumbuck aggregation is an extraordinary collection of pastoral assets assembled and developed over many decades through skill, patience and sustained investment."
"We are honoured that the MacLachlan family has entrusted us with the responsibility of carrying that legacy forward."
"This acquisition is a long-term family investment. We intend to build on the foundations established by Jumbuck, support the existing operations and continue investing in the productivity and resilience of the enterprise for future generations."
"We have great confidence in the future of the Australian sheep and wool industry. Demand for high-quality natural fibre and premium protein continues to grow globally and Australia remains uniquely positioned to meet that demand."