EDMONTON, AB and SYDNEY, Australia, Aug. 19,
2024 /CNW/ - The Alberta Investment Management
Corporation (AIMCo) has entered into an agreement to acquire the
Kimberly Meat Company (KMC), Yeeda
Station, and the Kimberly Property Portfolio (KPP),
collectively, the Yeeda Aggregation.
KMC is a state-of-the-art beef processing facility and is the
only export accredited facility located in northern Western Australia. Yeeda Station is a 475,000-hectare cattle
station hosting essential KMC infrastructure. KPP is a portfolio of
eight residential properties in Broome and Derby that provides KMC
with a long-term housing solution for the company's employees and
assists in attracting skilled labour to the region.
These assets deepen AIMCo's investment in this sector and
complement the recent purchase of the Yougawalla Pastoral Co in
2023. Integration with AIMCo's existing Yougawalla operations will
increase the robustness and flexibility of the supply chain and
enable the team to increase capacity and create value for our
clients.
Ben Hawkins, Executive Managing
Director, 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."
The transaction has been approved by the administrators and
creditors but remains subject to various regulatory approvals
including Australia's Foreign
Investment Review Board and the Pastoral Land Board.
About Alberta Investment
Management Corporation
AIMCo is one of Canada's
largest and most diversified institutional investment managers with
more than C$160.6 billion of assets
under management as at December 31,
2023. AIMCo invests globally on behalf of pension,
endowment, insurance, and government funds in the Province of
Alberta. With offices in
Edmonton, Calgary, Toronto, London, Luxembourg, New
York, and Singapore, our
more than 200 investment professionals bring deep expertise in a
range of sectors, geographies, and industries. For more
information on AIMCo please visit www.aimco.ca or follow us on
LinkedIn.
SOURCE Alberta Investment Management Corporation