Already a subscriber?A 70-year-old family-run farming business that is Australia’s biggest grower of sweet corn and beans – as well as other supermarket vegetables – has been put on the market for the first time with an asking price of more than $200 million.
The Glen Innes Aggregation in northern NSW is one of five aggregations owned by the Mulgowie Farming Company.Department of Agriculture’s latest forecastThe Mulgowie Farming Company portfolio is being marketed by Danny Thomas and Elizabeth Doyle of LAWD. Rawdon Briggs and Duncan McCulloch from Colliers are selling Moora Citrus on behalf of a group of private investors.
In 2004, the company began growing and packaging baby corn and two years later established farming and packaging operations in Victoria’s Gippsland and later in northern NSW. The company’s farm holdings comprise five aggregations, the largest being the Bowen Aggregation of 13 properties in North Queensland spread across 3100ha. Just over half of this is irrigated via a sub-surface drip line. It comes with processing facilities and substantial water entitlements.
They planted 170,000 citrus trees on the property and later secured the backing of the late property developer and Olympic rower Peter Gillon, who was Moora Citrus’ biggest shareholder.