Cargill completes merger with Teys Bros
Cargill has merged its Australian beef business with Teys Bros., the country’s second-largest beef processor. The companies have combined their businesses into a 50:50 joint venture, which will trade under the name of Teys Australia – A Cargill Joint Venture.
The news follows an announcement in July from the Australian Competition and Consumer Commission (ACCC) that it will not oppose the proposed merger.
Cargill operates two abattoirs and a feedlot in New South Wales which supply both the domestic and export beef markets, with the abattoirs in Tamworth and Wagga and the feedlot at Stockinbingal. Teys operates four beef abattoirs at Biloela, Beenleigh and Rockhampton in Queensland and Naracoorte in South Australia. Teys also operates a feedlot near Condamine in southern Queensland.
Brad Teys, Chief Executive Officer, Teys Australia said “The formation of Teys Australia represents an exciting time for our employees, suppliers and customers.
Teys Australia will operate a group of assets which are strategically located across the eastern seaboard of Australia. The joint venture is a combination of all beef processing and cattle feeding operations previously run by Teys and Cargill Beef Australia, as well as Teys’ tannery and value added facilities, and Teys’ share of its wholesale divisions.