PrimeAg Australia, formerly Bengerang Ltd., has bought Darling Farm’s cotton assets and the North Burke Cotton Gin in New South Wales, Australia from the Buster and Cole families for $40 million. Darling Farms includes three adjoining holdings totaling 14,676 hectares with storage for 38,000 megaliters of water and marks the sale of the largest cotton operation in the country this year. The transaction is expected to drive other cotton operators in the country that are considering selling to do so. In April of this year Darling Farm’s neighboring properties, the Beemery, Janbeth, and Latoka properties owned by Clyde Agriculture were sold for $50 million.
To receive relevant news stories with summaries provided by GAI Research & Insight, subscribe to Global AgDevelopments, our free weekly enhanced eNews service