Global investment firm KKR is to acquire ProTen, one of Australia’s largest broiler chicken growers, from Aware Super, according to a joint statement released on Wednesday. Financial terms of the transaction have not been disclosed.
Founded in 2001, ProTen operates more than 700 poultry sheds across over 60 farms nationwide. The company has been under the ownership of Aware Super since 2018.
The transaction will be executed through KKR’s Asia Pacific Infrastructure Investors II Fund, which has raised approximately $13bn in assets under management since its launch in 2019.
“KKR has been actively monitoring the agricultural infrastructure space as a high-conviction thematic,” Andrew Jennings, managing director and head of Australia & New Zealand infrastructure at KKR, said in a statement.
The acquisition remains subject to customary regulatory approvals and is expected to complete later this year.
