Alberta Investment Management Corporation (AIMCo) is acquiring the Yeeda Aggregation beef production and processing business in northern Australia.
The C$161bn (€107bn) Canadian institutional investor is investing an unspecified amount to buy Yeeda Aggregation, which comprises the Kimberly Meat Company (KMC), the Yeeda Station and the Kimberly Property Portfolio (KPP).
KMC is a beef processing facility, Yeeda Station is a 475,000ha cattle station hosting essential KMC infrastructure and KPP is a portfolio of eight residential properties in Broome and Derby that provides KMC with housing for employees.
AIMCo, which invests globally on behalf of pension, endowment, insurance, and government funds in the Province of Alberta, said the acquisition of Yeeda Aggregation expands its presence in the sector and build upon its recent acquisition of Yougawalla Pastoral Co in 2023.
Ben Hawkins, executive MD, head of infrastructure, renewable resources and energy transition at AIMCo, said: “We believe this acquisition gives us the opportunity to create a vertically integrated beef production and processing business in northern Australia.
“AIMCo has a strong track record of investing successfully in the Australian and New Zealand primary production and rural land sector, and are committed to ensuring strong animal welfare, environmental, social and governance standards are put in place.”
To read the latest IPE Real Assets magazine click here.
