Australia's largest avocado farm to be sold to offshore buyer - FreshFruitPortal.com

Australia's largest avocado farm to be sold to offshore buyer

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Australia's largest avocado farm to be sold to offshore buyer

The owners of Australia's largest avocado farm have reportedly struck a deal for its sale to an overseas buyer, according to The West Australian. 

The publication reported the deal for Western Australia-based Jasper Farms, owned by Neil Delroy, could be worth more than AUD$100 million (US$77 million).

The story said the buyer remained unknown but speculation suggested it was based in North America.

However, earlier this year Chinese A-share-listed company Shenzhen Kondarl (Group) Co., Ltd publicly announced its intentions to purchase avocado plantations in the state owned by the Delroy family.

Shenzhen said the acquisitions had not yet been finalized but would not exceed one billion RMB (US$145 million). It added farms included 220 hectares of mature orchards with 82,000 avocado trees that could bring about 4,500 metric tons (MT) annually. 

“We have been running a process to consider bringing in a strategic partner as we continue to further expand the business. No decision has been made at this stage,” Neil Delroy said in a statement given to Fresh Fruit Portal in March.

Jasper Farms is reportedly Australia’s biggest individual grower, producing up to 6000MT of Hass avocados a year, according to The West Australian.

It also reported the deal would be subject to the approval of the Foreign Investment Review Board.

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