15 mars 2024 - Leading Australian egg producer Ellerslie Free Range Farms (Ellerslie) is pleased to announce that PSP Investments, a global investor in natural resources, has acquired a strategic interest in the business alongside the Hall family who founded it with a single farm in the 1960s.
Located in the Darling Downs region of Queensland, Ellerslie is one of Australia’s biggest producers of eggs. Ellerslie also owns a 50% interest in Sunny Queen – One of Australia’s largest egg processors and distributors - as well as the Yallamundi Farm pastured-raised and organic eggs brand.
The transaction will not result in any changes to the Ellerslie business, its 400-strong workforce or relationships with customers and suppliers. Greg Quinn, Ellerslie CEO and Managing Director, said: “While for our people and partners it will be business as usual, we know that PSP Investments’ global scale will help us accelerate our plans to significantly increase cage free production in the coming years. I look forward to working with PSP Investments and I know that we are absolutely like-minded in our shared commitment to the highest standards of quality, sustainability and animal welfare.”
Marc Drouin, Senior Managing Director, Real Assets, and Global Head of Natural Resources at PSP Investments, said: “Over more than 60 years, the Hall family have built one of Australia’s leading egg producers and contributed to building one of the country's most iconic brands. Our investment in this business is very much aligned with our approach of investing alongside best-in-class, local operators who share our values, long-term horizon and commitment to sustainable farming. In many cases, this results in us investing alongside farming families who have cared for their land and animals for generations. That’s what we have found in Ellerslie.”
The investment has been approved by the Foreign Investment Review Board.
About PSP Investment
The Public Sector Pension Investment Board (PSP Investments) is one of Canada’s largest pension investors with $243.7 billion of net assets under management as of March 31, 2023. It manages a diversified global portfolio composed of investments in capital markets, private equity, real estate, infrastructure, natural resources, and credit investments. Established in 1999, PSP Investments manages and invests amounts transferred to it by the Government of Canada for the pension plans of the federal Public Service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. Headquartered in Ottawa, PSP Investments has its principal business office in Montréal and offices in New York, London and Hong Kong. For more information, visit investpsp.com or follow us on LinkedIn.