Australian Lamb Company bought by Minerva Australia

Through a joint venture between Minerva and SALIC (Saudi Agricultural and Livestock Investment Company) — known as Minerva Australia — the companies acquired 100% of issued shares in Australian Lamb Company (ALC) for AU$400 million.

ALC is one of the largest meat producers in Australia, processing approximately 100,000 tonnes of lamb and sheep meat per year. It has two processing facilities in Victoria that cater for the domestic market with meat products and exports to more than 70 counties around the world.

Sulaiman Al-Rumaih, CEO of SALIC Group, said that the acquisition of ALC in partnership with Minerva Foods is in line with SALIC’s strategy to contribute to the national food security objectives through global diversified investments in countries with competitive advantage such as Australia, which accounts for 42% of global red meat exports, taking into consideration that sheep meat represents 49% of red meat consumption in the Kingdom of Saudi Arabia. Al-Rumaih added that the acquisition is another successful expansion in Australia, following the acquisition of Merredin Farms in 2018 and the establishment of Minerva Foods Australia in partnership with Minerva Foods in 2021, which owns and operates two processing facilities in Western Australia.

SALIC owns 30.55% of the share capital of Minerva Foods, which operates more than 27 slaughterhouses globally and exports red meat to more than 100 countries around the world.

Image credit: iStock.com/Vladimir Mironov