February 10, 2021

By Lynda Kiernan, Global AgInvesting Media

Pierre and Luciana Langenhoven have acquired more than 1.1 million hectares (2.7 million acres) of cattle land since 2018, at a cost of more than A$150 million (US$116 million).

The pair’s latest addition to their growing portfolio, which they acquired with financial backing from Giovanni Ravazzotti (Luciana’s father and one of South Africa’s richest men), is the Larrizona Station in the Sturt Plateau region of the Northern Territory for A$17 million (US$13 million).

Due to Ravazzotti’s involvement in the deal, it is being reported that the transaction needed to gain approval of Australia’s Foreign Investment Review Board (FIRB). 

Located approximately 165 kilometers south of Katherine, the 70,000-hectare (172,974-acre) station, which was at one time part of the Dry River Station, has been developed by Brian and Cathy Lester from Western Australia over the past 23 years.

Today the property includes 1,000 hectares (2,471 acres) that are being used to produce seed, hay, and to background cattle, and a further 4,000 hectares (9,884 acres) that are currently in the preparation phase before development. It also includes significant groundwater, as was noted during its marketing.

“They will use the fodder that is produced from Larrizona and feed their own cattle [across other stations],”  Andy Gray, agent with Nutrien Harcourts, told ABC. 

“They are very impressed with the genetics of the Larrizona herd…and they will probably use some of the excess female cattle – instead of them potentially going to a [live export] boat – they will go back into their herds on other properties,” added Gray.

The Lester family will remain on Larrizona until the end of June on a sublease agreement. 

This purchase is the sixth for the Langenhoven’s Rallen Australia, which is owned by the Sydney-based couple, and is believed to be backed by Luciana’s father, Ravazzotti, who owns a majority stake in a ceramics manufacturer and retailer, and who holds the role of deputy chair of the company’s board.

Larrizona, which was bought on a walk-in, walk-out basis and runs 6,000 head of Brahmin cattle, now joins the Kalala, Tanumbirini, Forrest Hill, Mt. McMill, and Big River stations in the Rallen portfolio.

The Langenhovens acquired the Tanumbirini and Forrest Hill stations one year ago in February 2020 from Thames Pastoral in a $70 million deal. 

In 2018 the family acquired the 71,000-hectare Mt McMinn Station, and 70,800-hectare Big River Station for $7.5 million and $5.5 million respectively, and in May 2019 the family acquired the 376,000-hectare Kalala Station, which had been running about 35,000 head, for $58 million.

– Lynda Kiernan is editor with GAI Media, and is managing editor and daily contributor for Global AgInvesting’s AgInvesting Weekly News and  Agtech Intel News, and HighQuest Group’s Oilseed & Grain News. She is also a contributor to the GAI Gazette. She can be reached at lkiernan@globalaginvesting.com.