Close on the heels of its December purchase of three cattle stations – the Ballaroo, Ekari Park, and the Fairview for $11 million, Gunn Agri has acquired the Esmeralda Station in North Queensland in a private deal worth approximately $40 million, according to Beef Central.

 

Sydney-based Gunn Agri, which is led by Macquarie Group’s former chief operating officer in Brazil, Alan Hoppe, bought the 406,000 hectare station with 30,000 head of cattle from Mick and Trisha Sheahan who have owned the station since 2001. Originally, Beef Central reports that Gunn Agri acquired the station on behalf of either Chinese or Australian investors, but this could not be confirmed. Esmeralda was supposed to be put up for auction at $40 million in March of last year, but because of seasonal conditions the sale was postponed, and the property was later listed for private sale according to marketing agent, Troy Trevor with Queensland Rural, Ruralco Property, reports Queensland Country Life.

 

For years, Esmeralda has been used as a calf breeding station, running 20,000 breeders in good years, and its location gives the new owners good access to both slaughter markets in the east and export points for live cattle in the north.

 

"The style of the country and the opportunity to wean a large number of calves from the quality herd of Brahman cattle on Esmeralda Station, as well the level of improvements and water infrastructure was the attraction for the purchasers," Peter MacPherson, who negotiated the deal along with Trevor told AFR Weekend.