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Costa family to sell $300 million fruit farm portfolio

Agricultural corporate advisory firm Kidder Williams has confirmed berry and citrus farms owned by the Costa family are up for sale.

The portfolio includes blueberry and raspberry farms on the east coast of Australia from northern New South Wales to northern Tasmania, and citrus orchards in the Riverland in South Australia.

While privately owned by the Costa family, the farms are currently leased to the ASX-listed Costa Group, an arrangement that will continue.

Kidder Williams managing director David Williams is managing the sale, which he expects to be in the order of $300 million.

"We are running that process and we've only just kicked it off," he said. "The berry category in the supermarket is a fantastic category and growing."

Mr Williams said the properties would not be sold separately, but as one group. He is expecting strong interest from foreign and Australian buyers, driven by strong returns on investment offered by Australian horticulture. 

(From ABC Rural - 12 July 2017)