Property

Coultons’ Morella Agriculture buys Kalanga

Grain Central, February 15, 2022

Kalanga has sold to the Coulton family’s Morella Agriculture. Photo: Nutrien Harcourts Goondiwindi, LAWD

THE Kalanga Aggregation at Toobeah, in the Border Rivers Region of southern Queensland, has returned to local ownership following its acquisition by the Coulton family’s Morella Agriculture from the US-based Hancock Agricultural Investment Group (HAIG).

Spanning 12,840 hectares across the floodplains and terraces of the McIntyre River, the aggregation comprises the amalgamation of main holdings including Wahroonga and Gamut Lea, Brooklyn, Kalanga, Fraser, Whynot and Milkami.

It also includes a grain-handling facility at Bungunya and two vacant town blocks in Toobeah.

Kalanga is believed to have been sold for circa $80 million.

The Kalanga Aggregation has been developed for irrigated and dryland cropping, and has 69 fields ranging in size from six to 140ha.

Of the total land area, 3544ha has been developed for irrigation, which is supported by more than 23,430 megalitres of permanent water storage, allowing for the utilisation of 20,875ML for flood plain-harvesting licenses.

The Border Rivers region is well known for its high-quality land types and water security, and irrigated cotton is the main economic crop produced, in addition to dryland cotton and winter crops including wheat, barley, chickpeas and mungbeans.

Land, Agribusiness, Water and Development (LAWD) director, Simon Cudmore, who also helped to oversee the sale of the Kalanga Aggregation to HAIG three years ago, said the Coulton family will add it to their existing portfolio of cropping and livestock assets throughout Queensland and northern New South Wales.

“In the past two years, there has been a strong trend of Australian family farm businesses securing additional farmland to expand operations at this time of strong seasons and an exceptional outlook for the agriculture industry,” Mr Cudmore said.

“We have seen this again with the Coultons securing this group of assets close to Morella Agriculture’s headquarters in Goondiwindi.”

The Kalanga Aggregation was marketed by LAWD’s Danny Thomas and Mr Cudmore, in conjunction with Nutrien’s Andrew Jakins.

HNRG is a Canadian-based investment firm and bought Kalanga and the nearby Mobandilla in 2018 from Norman Farming, which bought Kalanga in 1981.

Morella Agriculture are already major cotton and beef cattle producers and cereal croppers, and are based Boggabilla.

Sam Coulton and family are major cotton producers and are the principals of Morella Agriculture.

Source: LAWD

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