Macquarie Group has sold its 470 hectare Melro Park dairy operation in southwest Victoria to ACE Farming for between $6 million and $8 million. The purchase of the farm, which has the capacity to produce 6.5 million liters of milk per year, will make ACE Farming the largest dairy farmer on the mainland, milking more than 10,000 dairy cows. ACE Farming, which was formed in 2007 with the acquisition of five dairy farms from Valad Property Group, which is now owned by private equity group Blackstone, has been quietly building its portfolio to 18 farms and expanding its presence into Victoria. In early 2014 ACE purchased the 500 hectare Malmo Farm from Longyuan International, and in October, 2014 it purchased the 400 hectare Oxdale dairy for $5 million from a subsidiary of the Singaporean company, QAF. ACE Farming is also under contract to purchase the 728 hectare McKinnons dairy in Warrnambool which is being held by receiver PPB Advisory.
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