10 May 2023
Warakirri is pleased to advise of the acquisition of the “Mondall” almond orchard in Victoria, the sixth investment for the Warakirri Diversified Agriculture Fund. The acquisition sees the Fund surpass the $100m portfolio milestone, with total assets of $117m (as at 30 April 2023).
The orchard spans over 350 hectares in the Sunraysia region near Mildura and is one of the most land and water efficient large-scale almond orchards in Australia. It’s a well established property, with a mature age profile, desirable almond varieties and direct access to the Murray River for irrigation. As a region, Sunraysia is a prime location for almond investment, accounting for ~50% of national production, and is home to three of the country’s five processing facilities.
“Mondall” is operated by one of the largest vertically integrated almond growers in Australia, Bright Light Agribusiness Group. The Bright Light group own and operate almond orchards across the Sunraysia region and have recently completed development on a new processing facility, to become only the 5th vertically integrated grower, processor and marketer of almonds in Australia.
In addition to adding a strong new Tenant Partner in Bright Light Agribusiness Group, the asset adds new exposure to one of the Fund’s key target sectors, and valuable geographic diversification to the portfolio.
The Warakirri Diversified Agriculture Fund’s portfolio of investments also features high quality Berry, Citrus, Soft Leaf Vegetable, Viticulture and ag-infrastructure assets, with six best in class Tenant Partners across five states and production regions. The Fund remains open to new investors and has a strong pipeline of investment opportunities.