A 200,000ha farm in Western Australia’s wheatbelt has been snapped up by the Saudi Agricultural and Livestock Investment Company (SALIC).
The farm, which was owned by grain farmer John Nicoletti, is understood to have been sold in a deal worth €38.1m.
Along with the 200,000ha, the deal also includes a 40,000-head Merino sheep flock.
The acquisition of the farm, which is held under the Baladjie Pty Ltd name, received clearance from Australia’s Foreign Investment Review Board (FIRB).
Included in the deal are the farm's four-grain elevators, two processing plants, a potato storage facility, equipment, and land-lease agreements.
Commenting on the deal, SALIC Kingdom of Saudi Arabia CEO Matthew Jansen said: “The acquisition of Baladjie is an important step for SALIC as we continue to build our global footprint in a meaningful way.
“It is our first acquisition in Australia, as well as our first investment in sheep production.”
SALIC’s head of production agriculture investments William England said that the local team will build on the legacy of John Nicoletti, with plans to manage the livestock and grain production enterprise for the long term with a focus on sustainability, profitability, environmental responsibility and support for the local rural community.
SALIC aims to be a world-class food security-focused agribusiness investment company, making sizeable, meaningful and scalable investments while ensuring a balanced risk optimised portfolio.
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