The firm has added the leafy greens business to its portfolio of companies which includes permanent crops businesses and an irrigation solutions provider.
Hancock Agriculture will buy Ottley Station and Moolan Downs, with the purchaser of Packhorse’s other asset Stuart’s Creek yet to be finalized.
Cordiant managing director Cédric Garnier-Landurie says the business wanted non-dilutive capital to support its growth plans but the firm could make an equity investment in the future.
Paul Pittman says it’s not a fire sale, but the company does aim to boost its stock price in public markets that undervalue the appreciation potential of FPI’s 165k-acre farmland portfolio.
The acquisition from an unidentified seller adds to more than $500m invested by the pension across Nuveen-managed vehicles that include properties in the US, Australia, Brazil, Chile and New Zealand.
Paraway Pastoral Company, owned by MAM’s Macquarie Pastoral Fund, will sell Borambil Station, Pier Pier Station and the Burmah Aggregation for a likely A$180m.
Perella Weinberg Partners has been appointed to find a US investor to take a 25% stake in NZ Rural Land Company’s existing portfolio.
James Gunton and Tim Easingwood discuss Exponent’s sale of recycling services provider Enva to I Squared Capital.
CAP managing director George McPherson says Merensky Timber will generate more of its own electricity from wood waste after separating from its parent, which owns Westfalia Fruit International.
Capital was deployed from the firm’s STAFF II vehicle, which held an €80m fourth close in August 2022 and is nearing its €100m target.