November 3, 2015

China’s Shangdong Delisi Food Co., one of the country’s biggest meat processors, has agreed to pay $140 million for a 45% stake in Bindaree Beef Group (BBG), one of Australia’s largest meat processors, which has been pursuing equity partners to help it expand into the premium beef supply space in markets across Australia, Asia, and further abroad.

This deal, which is one of the first large-scale deals to be announced since the sealing of the China-Australia free trade agreement in June of this year, will give Bindaree access to Delisi’s distribution network in China that reaches 700 million people.

“Delisi’s deep expertise in meat sales and processing, their premium and trusted brands and established distribution channels open up new avenues for BBG to leverage China’s growing appetite for beef protein,” said BBG chairman JR McDonald.

Bindaree is a key Australian meat processor with an abattoir at Inverell in New South Wales that has a capacity of 1,300 head of cattle per day and employs more than 600 people.

Shangdong Delisi is a listed company on China’s Shenzen Stock Exchange with a market capitalization of $1 billion.