Mort & Co has begun a strategic capital raising initiative in 2025, which is designed to attract investors to assist in the tactical growth of its feedlot sites.
The company said that although the investment memorandum has attracted significant interest from potential investors in the individual feedlot assets, it has yet to receive a suitable offer for an equity stake in the whole business.
Mort & Co have also decided to sell the Pinegrove and Yarranbrook feedlots and the company remains interested in the greenfield feedlot development site in Gogango, Central Queensland.
“We, as a board and company, recognise the potential for those three sites and firmly believe the future success of both Yarranbrook and Pinegrove feedlots is in the ability to expand and meet the growing grainfed beef requirements worldwide,” Mort & Co executive chairman and founder Charlie Mort said.
Mort & Co acquired the Yarranbrook feedlot in 2024 and has received approval for 35,000 standard cattle units (SCU) at the site, which currently feeds 18,540 SCU. The Pinegrove feedlot has been approved to expand to 21,200 SCU, which currently operates 9,698 SCU, while the greenfield site has approval for a 36,500 SCU feedlot.
Mort said that selling the sties will not only release high-value assets but will also find a buyer who can expand them to maximise their potential.
“This is not the way we envisaged the capital raising heading, but as it is in business, we need to be able to pivot from strategic plans in order to continue to be successful,” he said.
“We have had great loyalty from our 50-plus shareholders, many for more than 20 years, and we must accept that there are changes in their plans too. I believe this new plan will enable the growth at Yarranbrook and Pinegrove that we had hoped for, and for a new feedlot to be built in the heart of the cattle country, at Gogango in Central Queensland.”
