New South Wales-based red meat processor, Bindaree Beef, and exporter Sanger Australia have announced that the two companies have agreed to merge through a non-cash deal, effective July 6. The new company will be known as Bindaree Beef Group.
Earlier this year Bindaree Beef made it known it was seeking expressions of interest in the acquisition of an equity position in the company, and it is believed that this merger, which will link production, marketing, and exporting activities, will make the company more attractive in the eyes of investors.
“Sanger has always managed our sales channel and export markets efficiently,” said Bindaree chairman, JR McDonald, “This relationship gives us access to youth and enthusiasm while delivering a cost-effective sales platform that we share with all of Sanger’s other long-term supply partners.”
Sanger and Bindaree have had a business relationship for 42 years, and it will continue to be an independent subsidiary of the new entity. Over the past five years Sanger has seen rapid expansion. Supplying branded beef under Wagyu, Angus, marbled grainfed and grassfed brands, in the last financial year the company saw sales of $650 million from the distribution of meat to 350 regular global customers across all segments of the hospitality and food industries. The company’s staff has tripled within the past few years, and the company now has sales offices in Melbourne, Dublin, Dallas, Atlanta, and Shanghai.
Bindaree Beef, owned by the McDonald family, is the sixth largest beef processor in Australia, processing 6,000 head per week through its abattoir in Inverell in New South Wales. It also has retail interests through the Australian Meat Emporium and a retail case-ready operation that supplies Aldi Supermarkets.
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