GINA Rinehart’s heavy investment in her Wagyu beef supply chain continued this week, following the purchase of large-scale New England grazing property Glendon Park.
Located 40km north-east of Armidale, the 3234ha aggregation comprises four properties, currently running around 1500 breeders.
Vendors Renatto Barbieri and Charlie Wright are relocating overseas to pursue other business interests.
Ms Rinehart’s Hancock Prospecting has rapidly grown its Wagyu interests over the past three years, with a series of grazing property, Fullblood Wagyu herd and feedlot acquisitions to construct a dedicated Wagyu beef supply chain directed into her 2GR Wagyu beef brand.
Glendon Park will be used to grow Hancock’s Wagyu breeding and growing capacity, and work in conjunction with other recent acquisitions in its objective of continuing to grow the 2GR Wagyu brand.
The Wagyu bred and grown on Glendon Park will enter the company’s Maydan feedlot near Warwick for longfeeding, before being despatched into export and domestic upper-end food service markets, including the Nobu restaurants in Australia and overseas.
Hancock currently runs about 20,000 head of Wagyu cattle across multiple properties, include ng the largest Fullblood Wagyu herd in Australia, and anticipates further expansion.
“The Glendon Park acquisition is a high quality property that is well-located near our existing operations and will support further growth,” Ms Rinehart said in a statement.
In August, Hancock purchased the Sundown Valley aggregation near Kingstown west of Armidale – one of the largest cattle operations in NSW at around 17,500ha turning over up to 40,000 head of cattle each year. That deal also included the Gunnee feedlot near Delungra, doubling the company’s lotfeeding capacity after the earlier purchase of the Maydan feedlot near Warwick.
Glendon Park was offered through an Expressions of Interest process which closed in August, handled by Colliers.
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Two years ago Gina Rinehart founded Australia’s National Agriculture and Related Industries Day, being held this year on November 21. A gala dinner will be held in Sydney (Starship, King Street Wharf), including the launch of her book, “Things We Love”, proceeds from which will go to assisting drought victims. Ms Rinehart and her CEO David Larkin recently spent five days touring drought-affected properties in Queensland and New South Wales, delivering drought care packages.