Agribusiness & Food

BFB announes new majority shareholder

Australian grain producer BFB has announced a new majority shareholder after the sale of Proterra Investment Partners’ majority stake.

The Public Sector Pension (PSP) Investment Board, one of Canada’s largest pension investment managers, won the bid based on its price, low execution risk and creditworthiness.

PSP’s Natural Resources Group was also a strategic fit for the company, with the financial resources at its disposal to support BFB’s expansion plans, BFB said in a statement.

BFB will also maintain its current management team, head office and business structure, with several managers continuing to be investors in the company.

BFB Founder and Managing Director, Terry Brabin, said BFB has achieved outstanding growth underpinned by scale and efficiency since partnering with Proterra in 2008.

Related stories:

“Now, with PSP Investments, we look forward to succeeding in the next phase of our growth strategy to support our business, employees, customers, suppliers and the broader Australian community,” Brabin said.

PSP Investments Managing Director and Head of Natural Resources, Marc Drouin, said PSP was impressed with BFB’s team, performance and integrated business model.

“This investment is emblematic of PSP’s strategy to partner with world class and like-minded local operators who are also committed to best practices in the areas of employee health and safety, the environment, community engagement and corporate governance,” Drouin said.

“We have full confidence in BFB’s Management team and its employees to continue to grow this incredible farming business, for the benefit of BFB, the local community and Australia’s agricultural sector.”

Proterra Investment Partners Founding Partner, Brent Bechtle, said Proterra was proud to have been part of BFB’s transformation over the last decade into a diverse agribusiness with deep operational expertise.

“Over a period of 34 years, Terry and his team have created a best-in-class agribusiness and have become an important local employer,” Bechtle said.

Leave a Reply

Your email address will not be published. Required fields are marked *

Send this to a friend