XF Australia Pty Ltd (XFA) is pleased to announce the sale of the Company including Performance Feeds and NSA brands, subject to the satisfaction of certain conditions precedent, to a subsidiary of GrainCorp Limited.
GrainCorp is an ASX-listed agribusiness and processing company with a market capitalisation of $1.7b, that accumulates, produces, and trades agricultural commodities including grains, pulses, oilseeds, edible oils, animal feeds and human nutrition products domestically and internationally.
The XFA management teams will remain in the business under GrainCorp's new ownership following completion.
XFA Founder and major shareholder, Dr R. Hollis Klett said:
"XFA, Performance Feeds and NSA are highly respected in the feed supplement and animal nutrition consulting sector and after 38 years of success, the decision to sell XFA was not made lightly.
"Careful consideration was taken to choose a buyer that aligned with our culture and could support our company through its next phase of growth. We wanted to align ourselves with a company that provided a high level of service and quality products to its customers.
"We also wanted to ensure that our customers are cared for and secure into the future, with the buyer having the resources to manage agricultural cycles and take an innovative approach to their business and product offering.
“Our team are committed to working with GrainCorp to ensure a smooth transition and ongoing success.
"Seeing my vision grow and prosper has been my greatest achievement and pleasure, and I wish all involved every success and a prosperous future."
Subject to certain regulatory and commercial conditions precedent, completion of the sale is currently expected to occur on or before the end of January 2024.
XFA is a highly regarded provider of feed supplement products and nutritional consulting services to Australia’s feedlot and grazing sector. It was founded in 1993 and trades under two main brands: Performance Feeds – a leading manufacturer of a range of liquid and loose lick nutrition supplements to help boost production and performance, and optimise the all-round health of sheep, XF Australia Pty Ltd beef, and dairy cattle; and NSA – a feedlot performance and nutritional consulting business providing both independent advice and trace mineral premix production services.
XFA operates three manufacturing sites in Queensland (Brandon, Dalby, and Kingsthorpe) and one manufacturing site in Victoria (Kyneton) and has a team of highly skilled animal nutritionists with postgraduate qualifications.
GrainCorp is an integrated grain and edible oils business with pre-eminent grain storage and handling business in ECA, as well a significant edible oil processor and oilseed crusher in Australia and New Zealand. Over its 100+ year history, GrainCorp has created a global supply chain with high quality infrastructure assets that store, process, and facilitate the transportation of grains and edible oils. For future details, please visit the Investors & Media section of our website at www.graincorp.com.au.