Troy Setter, Chief Executive of CPC.
Consolidated Pastoral Company, a leading Australian agribusiness, announced the divestment of Comely Station, a small station in the CPC portfolio to Baldy Bay Pty Ltd owned by Sterling Buntine.
Comely Station is an aggregation made up of Comely and Mapala stations covering just over 23,000 hectares in the Bauhinia district of Central Queensland.
The sale is on a walk-in walk out basis and includes land as well as plant and equipment but not cattle.
Commenting on the announcement, Troy Setter, Chief Executive of CPC, said both Comely Station and Mimong Station were a good strategic fit for Sterling Buntine’s existing pastoral interests with both properties having strong feed.”
“Comely and Mimong are two of our smaller properties, so their sale will not have much of an impact on the scale of the CPC portfolio.
“CPC will still have one of the biggest pastoral holdings in Australia, comprising 3.8 million hectares of land across 10 stations with a carrying capacity of almost 326,000 head of cattle. We continue to be actively engaged with buyers interested in the CPC platform as a whole and in parts.”
“Our geographically diverse portfolio positions the business well in the current market and season and we continue to benefit from strong demand dynamics for beef and the strong performance of our Indonesian supply chain and investments in our properties, genetics and team.”