Toowoomba-based vertically integrated grainfed beef producer Mort & Co has taken a 50 percent share in the 18,000 head Yarranbrook feedlot at Inglewood on the NSW/Queensland border.
The deal ends more than 35 years of operations and ownership of Yarranbrook by members of the Hart family, some of which operate the John Dee Export processing plant near Warwick.
More & Co’s investment will begin a joint venture with Yarranbrook’s remaining owner, Stone Axe Pastoral, which bought its 50pc stake from the Hart family four years ago.
Mort & Co is already one of Australia’s largest feedlot operators, with assets including the 70,000 head Grassdale feedlot near Dalby, and 21,000 head Pinegrove feedlot near Millmerran.
The company last year also bought New South Wales stockfeeds business, Guyra Milling, following a comprehensive due diligence process, and recently announced plans to build a new 36,000 head greenfield feedlot in Central Queensland, under a partnership with RFM.
Stone Axe Pastoral supplies Wagyu to the global market through its purebred, Fullblood and crossbred Wagyu brand programs.
Mort & Co chief executive Stephen O’Brien said the 50/50 partnership was another step in growing the company’s feedlot footprint.
“Yarranbrook is a well-established site, with well-appointed infrastructure and a great team of people who we are excited to work with,” he said.
“We are really looking forward to supporting the potential growth opportunities of Yarranbrook, alongside an excellent team of employees and one of Australia’s best Wagyu producers in Stone Axe Pastoral,” he said.
“Our priority at this stage is to ensure a smooth transition phase and develop strong relationships with all stakeholders, as we move forward.”
A recruitment process is underway to appoint a new feedlot manager at Yarranbrook, following the departure of Gino de Stefani. More details to come on that move.
Click here to read a profile on Yarranbrook feedlot from Beef Central’s Top 25 Feedlots report.