February 9, 2023

By Lynda Kiernan-Stone, Global AgInvesting Media

Having secured approval from Australia’s Foreign Investment Review Board (FIRB), Consolidated Pastoral Company (CPC) has successfully completed its acquisition of Langley Station, including all cattle, a plant, and equipment, for A$17 million.

Located adjacent to the Jimarndy aggregation, which CPC acquired in October 2022 in a record-setting A$48 million (US$30 million deal), plans are to integrate Langley Station into the Jimarndy aggregation to achieve superior economies of scale. 

Comprising the adjoining properties known as Jimarndy, Tawarri, and Tandarra, the Jimarndy aggregation is located 245 kilometers northwest of Rockhampton and 208 kilometers southwest of Mackay, providing access to at least two major livestock selling and export centers.

The asset also offers 16 kilometers of river frontage on the Isaac River and its tributaries, which run through the aggregation, resulting in a balance of deep alluvial soils on the river side, and red loam soils toward the plateaus of grassland. 

The property also includes areas of dense timber coverage, especially toward the western boundary abutting the Junee State Forest.

Adding to this will be Langley, which encompasses 4,881.75 hectares (12,062.44 acres) 33 kilometers west of Clarke Creek and 50 kilometers east of Middlemount, with frontage on the Connors and Isaac Rivers. The property includes 2,300 cultivated acres on May Downs Creek, and includes a renovated homestead, an electric pump system on the Connors River, and solar pumps on dams. 

By integrating Langley into the aggregation, CPC will be able to run an additional 2,000 AE (animal equivalent) of cattle, and crop an additional 1,000 hectares of land on the property, bringing capacity up to 8,200 AE, plus cropping activities. 

CPC CEO Troy Setter, explained to GAI News that the property’s proximity to key markets will support their intention to grow and fatten young cattle they breed in Northern Australia at the site. 

“Due to the increased productivity of our herd and further land development across our northern stations we required additional growing and fattening land,” noted Sutter. 

CPC is a UK-owned and Australian management agribusiness that applies the principles of ESG across its portfolio, which currently stands at nine station aggregations in Australia and two feedlots in Indonesia. 

Across the 3.2 million hectares of land that CPC manages, the team oversees the care of more than 300,000 head of cattle while producing a range of crops, creating an asset base with a value exceeding A$1 billion. 

~ Lynda Kiernan-Stone is editor in chief with GAI Media, and is managing editor and daily contributor for Global AgInvesting’s AgInvesting Weekly News and  Agtech Intel News, as well as HighQuest Group’s Unconventional Ag. She can be reached at lkiernan-stone@globalaginvesting.com.

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