Hancock Prospecting Pty Ltd (“HPPL”) is pleased to confirm the acquisition of the Sundown Valley grazing property and Gunnee Farm and feedlot from Sundown Pastoral Company and Mort & Co.
Sundown Valley, located west of Armidale in New South Wales, covers an area of 17,800 hectares and is capable of grazing around 10,000 head of cattle.
The Gunnee Farm and Feedlot is located north of Inverell in New South Wales and covers an area of 1,600 hectares, including a feedlot capable of feeding 10,000 head of cattle.
Together, these properties will used by HPPL to further grow its Wagyu business by providing additional breeding and growing capacity, adding further flexibility and diversity to its production capacity. HPPL’s current Wagyu herd is approximately 20,000 head across multiple properties and is forecast to continue to expand with ongoing investment.
The additional productivity capacity will allow HPPL to produce Wagyu genetics for cross breeding to create herd improvement as well as expanding production of its premium 2GR Wagyu boxed beef brand, which is processed in Australia before being sold into domestic and international markets and is fast developing the highest reputation for its quality and consistency.
These investments are a continuation of the HPPL group and its Chairperson Mrs Gina Rinehart’s commitment to invest in regional Australia, focusing on producing premium, high quality cattle that are raised in Australia. They also continue to build on HPPL’s long history in Australian agriculture and creating Australian jobs.
Speaking after the transaction Mrs Rinehart said,
“The farms are located in a renowned cattle region in NSW that has a long history of producing high quality cattle. They are located in between our high quality Wagyu breeding properties near Dubbo and Roma, adding further growth opportunities and scale benefits for management.”
David Larkin said, “We are very excited with this recent purchase, and look forward to further improving our fantastic 2GR Wagyu brand.”
David Statham, Director of Sundown Pastoral Company, said “To be sold to a patriotic Australian and an iconic Australian company that has the same passion for Australian agriculture and knowing that the properties will remain maintained to the high standards we have created is very pleasing and satisfying…..We wish Mrs Rinehart and the Hancock team the very best with this acquisition.”