Australian cattle firm steps back from acquisition
AACo managing director Jason Strong said his company had had a chance to evaluate the portfolio, but had made the decision to grow the current business.
S Kidman and Co was put on the market earlier this year. It is reported to be the largest Australian landowner with a herd of 155,000 cattle.
"What it provided for us was the chance to evaluate that portfolio and line it up against what we can do with our current assets and business,” said Strong.
'Decision to push on'
"We've made the decision to just continue to push on and grow our current business, rather than any significant additional purchases at the minute.”
Strong has indicated that he is now focusing on AACo's boxed beef sales and wagyu products, to drive the business.
The company has cattle stations across Queensland and Northern Territory and a meat plant near Darwin.