Hancock snaps up Maydan
Award-winning feedlot sells to Rinehart
AUSTRALIA’S richest woman, Gina Rinehart, is growing her interests on the Southern Downs with the purchase of one of the region’s largest feedlots.
Hancock Prospecting bought Warwick’s Maydan Feedlot late last week.
Located at Bony Mountain, near the Rose City, the feedlot accommodates both short-term and long-term custom feeding and is licensed to carry 8000 standard cattle units, specialising in providing feeding strategies for premium beef producers.
Maydan has demonstrated a consistent ability to produce premium, high-grade beef, most recently assisting several of its customers in producing award-winning beef products.
HPPL chairperson Mrs Rinehart – now Australia’s third-biggest player in the cattle industry – said the Maydan acquisition continued the company’s pursuit of investments in the cattle industry with a focus on optimising the quality of beef.
The acquisition follows a move into the beef cattle industry with the establishment of Hancock Pastoral.
The company’s 2GR branded fullblood wagyu cattle from New South Wales already use the Maydan feedlot, which will continue to service new and existing customers.
“We are pleased to invest in regional Australia and regional jobs,” Mrs Rinehart said.
“This acquisition secures a key part of the supply chain producing and then processing export quality full blood Wagyu to both our Asian neighbours and local markets.”
Established in 1984, the feedlot has long been a supporter of the Warwick Rodeo and Gold Cup Campdraft as major sponsor.
Vendors Geoff and Rebecca
Willett congratulated Mrs Rinehart.
Mr Willett is staying with the business to ensure a smooth transition through the sale and will remain with the business.
“Maydan has been a successful family-run business for many years and we are pleased to see it being handed to a great Australian company,” Mr Willett said.
“Mrs Rinehart has great plans for the cattle industry in Australia and I am confident that, with Hancock’s investment, Maydan will continue to thrive.”
Mr Willett was unavailable for comment on the sale price at time of print.
Though Maydan was not ranked by Beef Central as one of the nation’s 25 largest feedlots, it has maintained its
reputation as one of the best in terms of quality of cattle feeding and animal welfare standards.
Mrs Rinehart has split her growing cattle empire into two streams. Her high-value southern herd is focused on luxury wagyu beef bloodlines, feedlot finishing and local processing into high value retail beef cuts.
Her northern cattle stations
and empire are geared to live exports to China, for slaughter on Zhoushan island’s China-Australia free trade zone in partnership with the New Hope agribusiness, pig and poultry meat group.
Mrs Rinehart signed a live cattle exports deal with Chinese players this month, which could be valued at more than $500 million if export capacity is maximised.
❝ Iam confident that with Hancock’s investment Maydan will continue to thrive. — Geoff Willett