Craig Mostyn Group will acquire full ownership of V&V Walsh next week, five years after the two Western Australian family-owned agribusinesses struck their first deal.
Craig Mostyn Group will acquire full ownership of V&V Walsh next week, five years after the two Western Australian family-owned agribusinesses struck their first deal.
The group purchased 50 per cent of premium beef wholesaler V&V Walsh in 2017 and has announced today acquisition for the final 50 per cent will take effect on July 1.
Craig Mostyn Group is one of the leading suppliers of pork into the WA market, operating the Linley Valley pork brand.
V&V Walsh is an Australian processor and wholesaler of premium beef and sheep products, being the first company internationally and the only one in Australia to be granted a license to export chilled lamb and beef to China.
CMG executive chair Neil Kearney said the merger would create one of the largest agribusinesses in the state, operating premium brands including Linley Valley Pork and V&V Walsh’s Amelia Park Lamb and Beef.
Mr Kearney said there was an opportunity to work with government, industry bodies and export partners to introduce the premium WA brands to the world.
“The companies share a vision for a strong, WA-focused food and protein production business with a desire to grow jobs and exports for Western Australia,” he said.
“It demonstrates our ongoing commitment to investing in and growing agriculture and food processing in WA, despite the challenging environment caused by the global COVID-19 pandemic.
“It also means a business developed in WA more than 60 years ago will remain in Australian ownership.
“Craig Mostyn Group will build upon the recent years of growth within the V&V Walsh business and continue to work with the management team at V&V Walsh to invest and grow the business further.”
Mr Kearney said the V&V Walsh brand would continue to be used in export markets.
He said former V&V chief executive Peter Walsh will remain in an advisory role.
Mr Kearney said the combined business had enormous potential to grow in WA and more broadly in the region, particularly in the rapidly developing markets in South‐East Asia and China.
“This is an exciting time for us as a company in the lead up to our 100th year anniversary next year,” he said.
“We are proud of our position as one of the leading employers in the Australian agribusiness sector, with more than 1,200 employees across 12 sites.
“This merger will provide greater job opportunities for employees as well as for those seeking a career in agriculture and food processing in Western Australia.
“We look forward to continuing to build on the legacy of our founders as these two great Western Australian companies become one.”
CMG was established in 1923 and has become WA’s largest vertically integrated pork, lamb and beef business in addition to operating three abalone farms in the east coast.
