Hancock Prospecting has disclosed how much it stumped up to buy a majority stake in the Bunbury Farmers Market.
Hancock Prospecting has disclosed how much it stumped up to buy a majority stake in the Bunbury Farmers Market.
The Gina Rinehart-helmed company paid $58.5 million for a 60 per cent interest in the popular grocer on the outskirts of Bunbury in December 2023.
Bunbury Farmers Market has finished building a second store in Vasse which is due to have its soft launch next month ahead of an official opening in December.
The market’s founders and now-minority partners are Kevin Opferkuch and Graham Heath.
At the time of purchase last year, Hancock tipped future outlets in Perth.
Documents filed with the Australian Securities and Investments Commission also reveal the company purchased Rossi Boots and Driza-Bone for $23 million.
Some $57 million of revenue was generated from Hancock’s retail and apparel arm in the 2023-24 financial year, 0.3 per cent of its $14.7 billion group revenue.
The Vasse Village farmers market’s build and landscaping is almost complete and is expected to open officially on December 5, however locals are likely to get access by late November.
Vasse Village market chief executive Leith Johnston in September said the shop would look to replicate the success of Bunbury Farmers Market.
“We’re incredibly excited to open our doors at Vasse Village and bring our fresh food offering to this vibrant community,” he said.
“Our goal has always been to deliver extreme value and freshness to our guests, and with the opening of this new store, we look forward to sharing the same high-quality, locally grown produce and 100 per cent market made products.
“Just like at our Bunbury store, we’ll continue our proud partnerships with over 150 local growers, farmers, and producers, ensuring we bring the freshest, highest-quality produce to the people of Vasse.”
Vasse Village will also incorporate a café and gluten free kitchen.
It sits near the main intersection west of Busselton on the road to Margaret River.
