S. Kidman & Co Acquisition
In December 2016, Hancock Prospecting announced that JV Company Australian Outback Beef Pty Ltd (AOB) owned 67% by Hancock and 33% by Shanghai CRED was successful in their bid for S. Kidman & Co Ltd.
Kidman is an iconic cattle business, established more than a century ago by Sir Sidney Kidman, and is now one of the Australia’s largest beef producers with an average herd carrying capacity of 185,000 cattle across South Australia, Western Australia, Northern Territory and Queensland. Currently the Kidman cattle stations produce beef for export to Japan, USA and South East Asia.
Within Kidman’s property portfolio there are nineteen individual properties which are operated as twelve enterprises, being ten cattle stations, a bull breeding stud farm and a feedlot.
Mrs. Gina Rinehart: “Kidman is an iconic cattle business established more than a century ago by Sir Sidney Kidman. It is an operation founded on hard work and perseverance by an outstanding Australian, and is an important part of Australia’s pioneering and entrepreneurial history.”