ProTen has a new feather in its cap following a strategic acquisition of Somerset Poultry asset
Somerset Poultry, a best-in-class broiler operation in Murgheboluc, Victoria, has been sold to ProTen, Australia’s largest broiler farming business.
The sale was managed by JLL’s Chris Holgar, Jock Grimshaw and Chris Lawlor of the Agribusiness team following a competitive Expressions of Interest campaign that attracted strong engagement from both domestic and offshore agribusiness investors.
While the sale price remains undisclosed, the agents confirmed the asset traded in line with initial expectations. The campaign guided prospective buyers to an EBITDA of approximately $1.1 million and anticipated a yield in the vicinity of nine per cent.
Mr Holgar said the transaction underlined ongoing investor appetite for high-quality poultry infrastructure underpinned by secure long-term agreements.
“Somerset Poultry attracted significant interest due to its scale, production quality, and strategic location within a strong poultry supply chain network,” he said.
Comprising six modern broiler sheds with capacity for nearly 300,000 birds per batch under RSPCA-approved conditions, the operation is supported by a long-term grower agreement with Turosi Food Solutions Group.
Mr Grimshaw said the acquisition by ProTen further consolidates its position as the country’s leading broiler operator.
“This is a natural fit for ProTen’s growing portfolio. Somerset Poultry’s infrastructure, water security, and proximity to major processing and feed facilities made it a standout opportunity,” he said.
The 82.26-hectare freehold farm also includes secure water access from Barwon Water mains (via a private main), Barwon River entitlements, a bore and significant on-farm storage capacity. The property is professionally managed with high biosecurity standards and further expansion potential, subject to approvals.
Mr Lawlor noted that the property’s access to key infrastructure – including Turosi’s hatchery and processing plant, Ridley’s Lara feedmill, and Avalon Airport – delivered strong operational and logistical advantages.
“Somerset Poultry is a first-class enterprise and a strategic addition to ProTen’s network,” he said.
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