THE nation’s second largest beef processor will pass into US hands following a surprise announcement this morning that Teys Investments Pty Ltd will sell its 50pc stake to joint venture partner Cargill.

A wholly-owned subsidiary of Cargill will purchase all of the issued share capital of Teys Investments from the Teys family shareholders.

As a result, Cargill will increase its ownership stake to 100pc of Teys Australia and Teys USA (Teys North American sales a distribution business), two of the primary operating companies which are currently jointly owned by Teys and Cargill.

With a diversified family shareholder base, the Teys family has decided it is the appropriate time to transfer the family’s interest to Cargill, a partner shareholder for the past 14 years and global leader in the food and protein industries.

The transfer of ownership provides continuity for Teys’ staff, partners and producers, and will ensure that it continues to serve as a leading provider of healthy, high-quality Australian beef products and a buyer of Australian livestock destined for local and international customers, a joint statement said.

Teys owns and operates a network of large, highly efficient beef processing plants in Queensland (Beenleigh, Biloela and Lakes Creek, near Rockhampton); Tamworth and Wagga Wagga (NSW) and Naracoorte (South Australia). It also manages large lotfeeding businesses (see entry in Beef Central’s recent Top 25 Lotfeeders report) at Condamine on Queensland’s Darling Downs,  Jindalee in the NSW Riverina, and Charlton in Victoria. The company also runs a large value adding facility near Brisbane, and a state-of-the art aggregation, cold storage and distribution facility at the Port of Brisbane.

Brad Teys

“My grandfather started this business more than 75 years ago with his brothers, and the family values of integrity, quality and honesty have stayed constant as we’ve evolved into the global food brand we are today,” Teys executive chairman Brad Teys said.

“The Teys family is immensely proud to have grown our business into a premier provider of beef to our customers and Australian families. Cargill has been instrumental in our transformation into a world-class food company. We are confident they are the best owner to grow the business into the future.”

“As family-owned businesses, both Cargill and Teys share the same commitment to nourishing Australia and the rest of the world in a safe, responsible and sustainable way,” said Jon Nash, executive vice president and leader of Cargill’s Food Enterprise.

“We are grateful to the Teys family for this opportunity to continue working alongside Australian livestock producers, who are pivotal to the agricultural supply chain, and to assure the delivery of high-quality and nutritious beef to family dinner tables across the country and globe.”

Completion of the change of ownership is subject to certain customary conditions precedent, including applicable regulatory approvals, and is expected to complete in the second half of 2025.

Cargill said it would name a new CEO of Teys in due course and work closely with Brad Teys to ensure a seamless transition.

About Teys

Teys has been delivering high quality Aussie beef to customers in Australia and around the world since the business was established as a humble retail butchery in 1946. Today, it offers a wide range of fresh beef, multi protein and value added product solutions for retail, foodservice or manufacturing.

About Cargill

Cargill is committed to providing food, ingredients, agricultural solutions, and industrial products to nourish the world in a safe, responsible, and sustainable way. Sitting at the heart of the supply chain, it partners with farmers and customers to source, make and deliver products that are vital for living.

The company employs about 160,000 staff, providing customers with life’s essentials so businesses can grow, communities prosper, and consumers live well. With 160 years of experience as a family company, Cargill looks ahead while remaining true to its values.

“We put people first. We reach higher. We do the right thing—today and for generations to Come,” is part of the company’s mantra.

• More details will be added here as they come to hand
• The original joint venture struck in 2011 between Teys and Cargill was the first story every published by Beef Central, back on 11 May 2011. Click here to access.