MEDIA RELEASE
Wellard has added an additional 2,000 hectares to its rural landholding in Western Australia, through the acquisition of a property adjacent to its Dongara Agri Hub at The Grange.
The purchase of the property adds to the existing 14,500 hectares Wellard Agri farms at The Grange and takes Wellard’s total rural landholding to 37,662 hectares, with an additional 20,000ha of leasehold.
Wellard Agri CEO Tim Macnamara said the ability to purchase a well managed property adjacent to The Grange was commercially attractive.
“The bolt-on acquisition will enable Wellard Agri to run more sheep and cattle and crop more hectares at The Grange utilising the capital infrastructure and management expertise Wellard has already invested in ” Mr Macnamara said.
“The benefits and synergies we were able to achieve from the addition of another property to our Watheroo Agri Hub in February 2013 provided us with the confidence to assess and pursue additional bolt on acquisitions at other Agri Hubs that provide additional returns on investment through the economies of scale.”
ENDS
For further information, please contact:
Cameron Morse
Phone: + 61 8 9485 8888
Mobile: +61 433 886 871