Latest news with #ProTen
Yahoo
2 days ago
- Business
- Yahoo
KKR Bets On Sustainable Protein Demand With ProTen Investment In Australia
KKR & Co. Inc. (NYSE:KKR) has struck a deal on Wednesday to acquire ProTen Pty Limited, a major player in Australia's poultry farming infrastructure, from Aware Super, a leading Australian pension fund. The agreement marks a strategic move by KKR to further expand its investments in the agricultural sector. Founded in 2001, ProTen operates hundreds of poultry sheds across more than 60 farms, playing a crucial role in the country's poultry production and food supply will channel funds from its Asia Pacific Infrastructure Investors II Fund to execute the transaction, which is pending regulatory approval and expected to close later in the year. The acquisition is aimed at fueling the next phase of ProTen's expansion and maintaining its leadership in the protein supply space. Andrew Jennings, who heads KKR's infrastructure operations in Australia and New Zealand, said the deal offers exposure to a 'high-quality' agriculture platform backed by steady, long-term contracts. Jennings added that ProTen's strong positioning, coupled with the country's increasing appetite for sustainable and secure protein sources, makes it an attractive asset for growth. Aware Super, which has managed ProTen since 2018, helped broaden the business's national footprint and quadruple its property base. Jiren Zhou, infrastructure portfolio manager at Aware Super, said the fund's active management approach delivered strong outcomes for its 1.2 million members while reinforcing its global infrastructure portfolio, now valued above 20 billion Australian dollars ($13.14 billion). James Wentworth, ProTen's CEO, credited Aware Super's commitment and strategic investments for enabling significant customer growth. He emphasized that the company's operational structure and mission would remain unchanged under KKR's ownership as they continue delivering affordable, sustainable poultry to Australian consumers. The deal adds to KKR's growing footprint in the region, following investments in Zenith Energy, Queensland Airports Limited, Spark Infrastructure, and Ritchies Transport. Since 2019, the firm's Asia Pacific infrastructure division has scaled to manage around $13 billion in assets. According to Benzinga Pro, KKR stock has gained over 25% in the past year. Investors can gain exposure to the stock via VanEck ETF Trust VanEck Alternative Asset Manager ETF (NYSE:GPZ) and EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF (BATS:LBO). Price Action: KKR shares are trading higher by 1% to $133.75 premarket at last check Wednesday. Read Next:Photo via Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? KKR (KKR): Free Stock Analysis Report This article KKR Bets On Sustainable Protein Demand With ProTen Investment In Australia originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Herald Sun
3 days ago
- Business
- Herald Sun
Somerset Poultry at Murgheboluc sold for millions to ProTen
Don't miss out on the headlines from Victoria. Followed categories will be added to My News. Australia's largest chicken meat farmer has been sold by the $190bn Aware Super pension fund, with American investors swooping in to secure the huge enterprise. ProTen, Australia's largest broiler farming business, has been sold to American global private equity and investment company, Kohlberg Kravis Roberts & Co (KKR). Financial terms of the sale remain undisclosed. In May it was reported KKR was circling the broiler business with a leading bid of about $1.3bn. Founded in 1987 in New Zealand, ProTen had been owned by Aware Super since 2018, with the company producing 68 million birds annually at the time. However, under Aware Super's-backing ProTen expanded to grow a whopping 174 million birds per year, or about 25 per cent of Australia's annual consumption, supported by more than 700 poultry sheds across over 60 farms nationally. 'Our investment in ProTen is a unique opportunity to acquire a high-quality agricultural infrastructure asset, supported by availability-based long-term contracts, that plays an essential role in the food supply chain,' KKR managing director and head of Australia & New Zealand Infrastructure Andrew Jennings said. 'ProTen is very grateful for the longstanding relationship it has enjoyed with Aware Super. Over the last seven years they have been unwavering in their commitment to and investment in the business,' ProTen CEO James Wentworth said. The ProTen transaction is expected to close later this year, subject to customary regulatory approvals. The change of ownership at ProTen comes as the chicken grower secured a top-tier poultry operation located in Victoria's Golden Plains region, 21km west of Geelong. Listed for sale earlier this year, the Somerset Poultry property spans 82ha at Murgheboluc, offering six state-of-the-art broiler sheds growing almost 300,000 birds per batch. The sale price of Somerset Poultry remains undisclosed, but is understood to have traded in line with initial expectations. Somerset Poultry was offered to the market with price expectations of a $1.1m EBITDA and an anticipated yield in the vicinity of 9 per cent. The asset was also offered to the market including its long-term grower agreement with the Turosi Food Solutions Group. JLL Agribusiness agents Chris Holgar, Chris Lawlor and Jock Grimshaw handled the sale of Somerset Poultry. Mr Holgar said the transaction underlined ongoing investor appetite for high-quality poultry infrastructure underpinned by secure long-term agreements. Water security at Somerset Poultry is secured from Barwon Water (via a private main), the Barwon River, bore water and extensive on-farm dam storage of about 50ML. Originally published as American investors snap up huge Aussie chicken farmer
Bloomberg
3 days ago
- Business
- Bloomberg
KKR to Buy Australian Agriculture Firm ProTen From Aware Super
KKR & Co. agreed to acquire Australian agriculture infrastructure company ProTen Pty from Aware Super, in another Asia-Pacific deal by the US private equity firm. KKR is making the investment from its Asia Pacific Infrastructure Investors II fund, it said in a statement Tuesday, without disclosing financial details. The transaction is expected to close later this year, pending regulatory approvals, it said.
Reuters
3 days ago
- Business
- Reuters
KKR to acquire Australian chicken grower ProTen from Aware Super
July 2 (Reuters) - Private equity group KKR (KKR.N), opens new tab will acquire ProTen, one of Australia's largest broiler chicken growers, from pension fund Aware Super, the parties said in a joint statement on Wednesday without disclosing financial details. ProTen was established in 2001 and currently manages more than 700 poultry sheds across more than 60 farms. The company has been owned by Aware Super since 2018. "KKR has been actively monitoring the agricultural infrastructure space as a high-conviction thematic," Andrew Jennings, managing director and head of Australia & New Zealand infrastructure at KKR, said in a statement. KKR will make the investment in ProTen from its Asia Pacific Infrastructure Investors II Fund, which has grown its assets under management to about $13 billion since it was established in 2019. The deal is expected to close later this year, subject to regulatory approvals.
Yahoo
3 days ago
- Business
- Yahoo
KKR to acquire Australian chicken grower ProTen from Aware Super
(Reuters) -Private equity group KKR will acquire ProTen, one of Australia's largest broiler chicken growers, from pension fund Aware Super, the parties said in a joint statement on Wednesday without disclosing financial details. ProTen was established in 2001 and currently manages more than 700 poultry sheds across more than 60 farms. The company has been owned by Aware Super since 2018. "KKR has been actively monitoring the agricultural infrastructure space as a high-conviction thematic," Andrew Jennings, managing director and head of Australia & New Zealand infrastructure at KKR, said in a statement. KKR will make the investment in ProTen from its Asia Pacific Infrastructure Investors II Fund, which has grown its assets under management to about $13 billion since it was established in 2019. The deal is expected to close later this year, subject to regulatory approvals. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
