The aggregator’s latest acquisition of 2100 hectares of sugar cane farms almost doubles its holdings in Queensland’s fertile Burdekin region, south-west of Townsville.
Sugar cane farm aggregator Australian Cane Farms is poised to become one of the country’s biggest independent sugar producers after it raised $55 million to buy a 2100-hectare portfolio of farms in Queensland’s fertile Burdekin region, south-west of Townsville.
ACF now produces 190,000 tonnes of cane a year. Last financial year, its $73 million portfolio of farms generated $10.7 million in sales revenue, and Mr Kirby said ACF was making “good profits”.
“We sat down with the ACF board and Steve, and looked at their farms and the acquisitions they are doing. They are keeping land in the industry and growing cane productively. Economies of scale are what it’s all about.”
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