Crops

Managing director David Bryant flags future acquisitions in the cattle and macadamia sectors after property revenues grew by 22%.

The fund will pursue a buy-and-lease strategy and will also target development projects that could deliver IRRs of ‘50-60%’, said a founding partner.

Equinom founder and CEO Gil Shalev says the firm’s naturally-bred yellow peas will have as much as 50% protein content.

Daybreak Cropping has purchased Erregulla Plains, extending PSP’s agricultural exposure in Australia to Western Australia’s northern Wheatbelt for the first time.

Justice Hammerschlag found that Bonitas Research and CEO Matthew Weichert had disseminated information that was ‘false in material particulars’ and ‘materially misleading’.

Foodservice is likely to be the primary customer base on which Wonderful builds out its production, given the popularity of seedless lemons in food preparation industries.

The fund will focus on deals averaging $20m to create a portfolio of row and permanent crops with its first four investments targeting permanent cropland in California.

Interest from institutional investors and private equity remains strong in Australian agriculture despite difficult conditions because of a belief in the asset class’ ‘long-term thesis’.

The annualized return to the end of September 2019 was 14.37% but continuing drought means that income returns are especially likely to fall further in upcoming quarters.

Cofounder Steven Dring says the start-up expects to reach its target 'pretty soon' and is working on building out a new cohort of hydroponic farms with partners.