Warakirri Asset Management, one of Australia’s largest Agriculture investment managers and operators, has announced two foundation investments for the Warakirri Farmland Fund as part of a stone fruit category strategy with fresh fruit market leader and initial Fund Tenant Partner, W. F. Montague Pty Limited.
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Across two orchards in the two premier stone fruit growing regions of Australia (Goulburn Valley and Cobram), these investments will see the Fund become one of the largest owners of modern, high-density, premium stone fruit orchards in the country.
Already Australia’s leading packer and marketer of stone fruit, under the 20 year lease partnership, Montague, is expanding their stone fruit production footprint to be one of the largest growers of premium plums, nectarines, apricots and peaches, building on their existing capability in this sector and market leading position in the apple category.
Focused on high performing plum and nectarine varieties marketed under the Montague Tree and CROC EGGS trademarks in Australia and overseas, the partnership will allow Montague to leverage their industry leading genetics, modern horticultural techniques and best in class orchard management to produce larger volumes of consistent, high-quality fruit, from highly efficient and sustainable production systems.
Steve Jarrott, Portfolio Manager for the Fund said: “We’re delighted to commence the Fund with these high-quality foundation investments and in particular, the class and calibre of our initial Tenant Partner. Montague have been growing fruit for three generations and are a business with an intense focus on quality, consistency and innovation in the horticulture industry – a great fit for the Warakirri Farmland Fund.â€
Scott Montague, managing director, shared his excitement with the Montague team and said: “The investment will allow all parties to accelerate their growth strategy and diversification of fruit grownâ€.
Over the coming weeks, the Montague team will wind down a successful 2022 stone fruit harvest after a challenging season impacted by the global pandemic. Attention will then turn to the new crop and further expansion of the orchards. Learn more about Montague and the Montague stone fruit range here. ■