Australian macadamia farm sold to Canadian investment firm in $100m deal

A Canadian investment firm has purchased the bulk of the farming and processing business of one of Australia's largest family-owned macadamia growers in a deal valued at over $100 million.

Key points: Investment firm Stahmann Webster will pay more than $100 million as part of the deal, which is part of Canadian pension fund manager PSP Investments, will make the acquisition of an extensive network of orchards and a state-of-the-art cracking, processing and packaging facility during the sale.

Current owners, the Steinhardt family, will remain involved in the macadamia industry and will retain several business units including the value-added facility and associated tourism and coffee business.

Macadamias Australia maintains over 200 000 trees and harvests about 2,000 tons of inshell walnuts every year.

Its Bundaberg factory can process up to 10,000 tons of walnuts per year.

Family- grown empire

The Steinhardt family have been farming the land in Bundaberg since 1958 and planted the farm's first macadamias in 2004.

Speaking on behalf of the Steinhardt family, Macadamias Australia Director Janelle Gerry , said the family is "very positive about the future of the industry".

Janelle Gerry (second from left) uche) says the Steinhardt family will remain involved in the macadamia nut industry. (Supplied: Tom Smith)

"The company has been on an accelerated journey over the past three to five years, to build on our vision of being a truly vertically integrated company she said.

"We have invested heavily in growing the value-adding and tourism side of the business, and are passionate about industry and tell the story of macadamias, and this will be continued by the family."

Macadamias Australia opened a new $1.8 million visitor experience in Bundaberg at the end of 2021, giving visitors the opportunity to see how macadamias are processed.

The passionate Steinhardt family by "telling the story of macadamias". (Supplied: Craig Zonca)

As part of the agreement, all Macadamias Australia employees will be offered roles in the combined business or operations that will be retained by the Steinhardt family.

All contracts with producers should be renewed with the new owners.