Yarra Corp has committed to pumping capital into SEALS under the new agreement, but said the management team of the Darwin, Australia-based business will remain unchanged.
SEALS chairman John Kaus said the sale of the controlling stake would enable to the business to develop new opportunities in north Asia.
He added: “SEALS has an extremely loyal client base, with some dating back to our formation in the 1990s. We have structured the deal to ensure that our long-term clientele will benefit from the change, while giving us the ability to extend our services into new regions.”
Linking up with Yarra Corp should allow SEALS to tap into the Singaporean firm’s sizeable distribution networks across China – a leading importer of Australian livestock.
It is a partnership that will help Yarra Corp in its long-term mission to build a fully integrated international supply chain with farms in Australia through to meat packing plants in China.
“Our vision is to be a one-stop shop, where we can provide our customers with the freshest products from paddock to plate, and the most value-for-money produce directly from Australia,” said Yarra Corp chief executive Bradley Leahey.
“We have always admired John’s dedication – and that of his team – and are excited to be working alongside SEALS in this new phase.”
SEALS has sold nearly half a million head of cattle to a range of south-east Asian markets in the last decade.