July 19, 2024
MacLachlans break up farming empire greater than Netherlands

Wave Hill Station was bought by Jumbuck in partnership with the rich Wilson household for $104 million in 2021.

The household’s remaining properties together with Blina Station in WA, Bulgunnia Station and Commonwealth Hill in SA and Gunbar Station in NSW will likely be retained by their father Hugh, the chairman of Jumbuck Pastoral, and their sisters, Airlie MacLachlan, Islay McKenzie and Brooke Yates.

In April, Andrew Forrest’s Fortescue Metals Group acquired Jumbuck’s 1 million hectare Rawlinna Station in WA – the nation’s largest sheep property.

“Planning for household succession, most regrettably, sees my sons Jock and Callum departing the Jumbuck household in September,” Hugh MacLachlan stated.

“As joint managing administrators they’ve served Jumbuck for a really lengthy time period, with distinction. It’s their enterprise and monetary experience, and theirs alone, that expanded Jumbuck pursuits into the Victoria River district of the Northern Territory,” he added. “Within the meantime, Jumbuck will stick with it as earlier than with my daughters Airlie, Islay and Brooke as administrators taking extra energetic roles the place they will.”

Earlier than splitting up their empire, Jumbuck Pastoral ranked because the nation’s third-biggest landowner behind Crown Level Pastoral Firm – owned by graziers Donny and Colleen Costello and their companion, former horse-racing coach Viv Oldfield – and ASX-listed Australian Agricultural Firm.

Crown Level prolonged its huge cattle station empire to greater than 9.2 million hectares in September final 12 months after buying Mount Doreen Station within the Northern Territory for about $70 million.

AACo owns 6.6 million hectares of cattle stations.

Hancock Prospecting billionaire Gina Rinehart had been the nation’s greatest landowners till she started downsizing her portfolio by promoting over $500 million of cattle stations to deal with greater worth Wagyu beef farming.

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