Australian nut processor Stahmann Farms Enterprises has received a major cash injection from one of Canada’s largest pension investment companies.
Public Sector Pension Investment Board, or PSP Investments, has acquired a shareholding in Stahmann Farms and hopes to be able to use its influence to help put in a place expansion plans that will enable the company to take more advantage of global demand for tree nuts.
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Stahmann Farms supplies a range of nuts products including pecans and macadamias. It also runs a consumer packaging division that works with retailers in Australia and around the world. It is based in Toowoomba in Queensland and has additional farms in Moree in New South Wales.
PSP Investments said it was committed to Stahmann Farms for the long term. “PSP Investments is an agile investor focused on developing strong partnerships with best-in-class and like-minded local operators,” it said in a statement
The extra investment is expected to be first spent on supporting further regional development within Australia, particularly in new and existing locations in New South Wales and Queensland. It will then look to build on its export opportunities for the long term.
The existing owners will continue to have a substantial stake in Stahmann Farms and there will be not change to the current management team or workforce following the new investment.
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By GlobalDataStahmann Farms was originally the Australian arm of a family pecan farming business dating back to 1932 in New Mexico, US, and claims to be now Australia’s largest pecan grower and processor.
