One month after Elders sold its half share in the Elders New Zealand business, the company has sold its 776 hectare feedlot and cropping property in Victoria to beef processor Teys Australia. Teys Australia, which is a joint venture between its Australian family founders and U.S.-based Cargill, operate six beef processing plants across Australia, and the acquisition of the Charlton feedlot will be its third. The Charlton feedlot is one of Victoria’s biggest with a 20,000 head capacity, 150 hectares of livestock infrastructure, feed mills, plants, and related facilities. The sale marks another step by Elders to reduce its $236.6 million debt and streamline its business. Although it has been involved in a flurry of divestments, Elders does not plan to sell its other ‘Killara’ feedlot in New South Wales or its Indonesian feedlot venture.
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