$500m Kooba sale to benefit Hay ginning operations

The 30,000 acres Kooba farm aggregation has sold, for a rumoured $500 million. The property is best known as one of Australia’s largest cotton growing enterprises, however Kooba also grows irrigated crops, boasts almond orchards, and runs livestock. 

Australian Food and Fibre (AFF), owner of Hay’s cotton gin, will take ownership of Kooba, in a joint venture between Canadian-based agribusiness PSP Investments and the Robinson family.

AFF will transfer the beneficial interest in the almond and apiary assets to Stahmann Webster, while the cotton, cropping and livestock operations will remain with AFF.

An AFF spokesperson told The Riverine Grazier that staffing levels at the Kooba operations will remain stable.

“The Kooba properties are run by best-in-class teams who will be joining AFF to continue their growth.

“Kooba represents some of the best land in the Riverina and its assets are a natural fit with AFF and Stahmann Webster. Both the cotton and almond operations will expand and continue to thrive under specialist ownership.” 

The property was offered by owners Chris Corrigan and David Fitzsimons, following the 2022 sale of a large part of the aggregation – the Kooba Ag Hay portfolio - the Paterson family, for $63 million.

Kooba was once part of the formerly ASX-listed Webster Ltd, once one of Australia's oldest and biggest farm investors. 

In a circular story, AFF managing director Mr Joe Robinson, was once a director of Websters Ltd. He was a director from 2016 to 2018 and oversaw the cotton operations in the Riverina prior to and during that time.