07/12/2021 - 09:36

Forrest's Harvest Road buys New Norcia Farm

07/12/2021 - 09:36

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Andrew Forrest’s agricultural investments vehicle will acquire New Norcia Farm as part of a $40 million move designed to underpin the expansion of its cattle and beef supply chain.

Forrest's Harvest Road buys New Norcia Farm
The farm hit the market in September, allowing the property to change hands for the first time in 175 years. Image: Ray White.

Andrew Forrest’s agricultural investments vehicle Harvest Road Group will acquire New Norcia Farm as part of a $40 million deal designed to underpin its cattle and beef supply chain expansion.

The farm, which spans almost eight hectares of land in the Shire of Victoria Plains north of Perth, has sustained the Wheatbelt town since its establishment in the 1840s, when it was settled by Benedictine monks.

Over the last century, the land has undergone significant development, used for livestock grazing and cropping.

In recent years, cropping has taken a lead role at the farm, which has about 3,600 hectares of arable land.

The farm officially hit the market for the first time back in September, allowing the property to change hands for the first time in 175 years.

Harvest Road chief executive Paul Slaughter said the purchase was a strategically important one for the business, which sits just 33 kilometres south-east of its new Koojan Downs Feeding Facility.

He said the Tattarang company’s growing network of supply chain assets was a game-changer for WA and represented a strategic step to mitigate against the changing climate, stabilising the local beef supply chain and enhancing the local economy.

Tattarang chief investment officer John Hartman said the company was eager to protect and enhance the iconic property's status, while further developing its production capacity.

“We pay tribute to the outstanding stewardship of the Benedictine community that has preserved the exceptional productivity of the land for almost two centuries,” he said.

“We know this is an iconic place with an unbroken 175-year agricultural legacy that has helped support generations of regional farming communities. 

“We are committed to investing into New Norcia’s future and we look forward to working with the surrounding shires to create new value for local communities and unlock long-term jobs.”

The transaction still hinges on the approval of the Holy See.

The company’s core business revolves around its Harvest Road Beef and Harvey Beef brands, but it also has aquaculture and horticultural arms in development.

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