Hewitt / Nolan MeatsMN-35018

Parties

Summary

Sapphire Cattle Company, an entity within the Hewitt group (majority-owned by Public Sector Pension Investment Board), has acquired Nolan Meats Pty Ltd, including its land and assets. This red meat industry deal expands Hewitt's beef processing and distribution, incorporating Nolan Meats' Gympie facility (260,000 head annual capacity) and 4,000-unit feedlot.

Acquisition details

Sapphire Cattle Company, an entity within the Hewitt group ( Hewitt ) is proposing to acquire Nolan Meats Pty Ltd ( Nolan Meats ), including land and assets, via connected entities (the Acquisition ). Hewitt is a majority-owned subsidiary of the Public Sector Pension Investment Board ( PSP Investments ), an investment management fund established by the Parliament of Canada. The remaining shares in Hewitt are owned by the Hewitt family. Hewitt is a red meat producer, headquartered in Brisbane, which farms cattle and sheep, undertakes secondary processing of beef into value-added products (such as beef patties), and distributes (including the packaging, marketing and sale of) beef to supermarkets, the food service industry, butchers and international customers. Hewitt predominantly produces organic beef products. Nolan Meats is a beef producer headquartered in Gympie, Queensland, which undertakes lot feeding of cattle, primary processing of cattle, and the wholesale distribution (including packaging, marketing and sale) of beef to supermarkets, the food service industry, butchers and international customers. Nolan Meats’ core assets include a primary processing facility with an annual capacity of 260,000 head of cattle, located in Gympie, and a 4,000 standard cattle unit-licensed beef cattle feedlot situated 65 kilometres west of the processing facility.