The Domain Capital Group subsidiary company has pursued a short-term buy-and-sell timberland strategy since it was founded in 2017.
Senior vice-president Neil Juhnke says the sale comes after a one-year trial confirmed the facility would struggle to compete in a retail inputs market increasingly defined by consolidation and scale.
CEO Jeff Dunn says that over the next few years, the Butterfly-backed carrot and juice supplier plans to double the capacity of an Arizona processing facility acquired from Rousseau Farming.
Windmill, Outback Australia
FIRB assessment process will now take six months instead of 30 days, with a $0 threshold for review applied to all transactions.
Partner Jack McCarthy says the company’s deal-by-deal fundraising approach allows it to hold assets for periods longer than a typical farmland fund’s life.
EXEO partner Izak Strauss says firms like Masimong Group Holdings that invest to promote black empowerment in South Africa are increasingly interested in agriculture.
Firm partner Adam Oliver says institutional farmland managers’ efforts to broaden portfolios and diversify risk is helping create interest in the country.
NZ Super Fund deployed more capital into its beef JV Palgrove and is open to further acquisitions.
The firm’s investor base includes LPs ‘that have distribution channels outside of North America that are looking for assets like this’ says COO Brent Drever.
Daybreak Cropping has purchased Erregulla Plains, extending PSP’s agricultural exposure in Australia to Western Australia’s northern Wheatbelt for the first time.
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