Daily Mail

AFL chief Gillon McLachlan takes a stake in $104m cattle farm

Daily Mail logo Daily Mail 24/02/2021 00:48:37 Levi Parsons For Daily Mail Australia
a person wearing a suit and tie posing for a photo: MailOnline logo © Provided by Daily MailMailOnline logo

AFL CEO Gillon McLachlan has taken a stake in a $104million cattle farm with a famous history that helped shape the Aboriginal land rights movement.

The 46-year-old footy boss snapped up a portion of Wave Hill Station, 750km south of Darwin in the Northern Territory's Victoria River District as part of Jumbuck Pastoral - a business syndicate run by his cousins Jock and Callum MacLachlan.

ASIC documents reveal another key backer in the buyout is the millionaire Wilson family, who own a controlling stake in ASX-listed plumbing and bathroom supplies firm Reece Group.

One of Australia's largest beef producers Western Grazing put the 1.25 million hectare property up for sale after three decades as part of a strategic review of their operations

a group of people posing for the camera: The 46-year-old footy boss (Gillon McLachlan, pictured with wife Laura Blythe in 2019) snapped up a portion of Wave Hill station, 750km south of Darwin in the Northern Territory's Victoria River District © Provided by Daily MailThe 46-year-old footy boss (Gillon McLachlan, pictured with wife Laura Blythe in 2019) snapped up a portion of Wave Hill station, 750km south of Darwin in the Northern Territory's Victoria River District a view of a beach: AFL CEO Gillon McLachlan has taken a stake in a $104million cattle farm with a famous history that helped shape the Aboriginal land rights movement. Pictured: Wave Hill Station in the Northern Territory © Provided by Daily MailAFL CEO Gillon McLachlan has taken a stake in a $104million cattle farm with a famous history that helped shape the Aboriginal land rights movement. Pictured: Wave Hill Station in the Northern Territory

Under the deal, $56million was offered up for the land with the remaining $48million set aside for 40,000 Brahman cattle.

Jumbuck director Callum MacLachlan told the ABC that being able to purchase the property along with prime cattle means the company can 'hit the ground running'.

But in the immediate term, there will be some hurdles to navigate after below average rainfall over the past few years and arbitrary bans on Australian beef exported to China after a diplomatic spat erupted between the two countries in the wake of the coronavirus crisis.

'The underlying quality of the country and feed types, the diversity of the rangeland, consistent rainfall, the large run giving economy of scale efficiencies, and potential for development were all attractive,' Mr MacLachlan said.

'It's a generational asset - a very long-term play.'

Wave Hill Station played a key role in the history of Indigenous land rights after 200 Gurindji stockmen in 1966 walked off the job and went on strike.

a man wearing a suit and tie: as part of Jumbuck Pastoral - a business syndicate run by his cousins Jock and Callum MacLachlan. © Provided by Daily Mailas part of Jumbuck Pastoral - a business syndicate run by his cousins Jock and Callum MacLachlan. a herd of cattle standing on top of a dirt field: Under the deal, $56million was offered up for the land with the remaining $48million set aside for 40,000 Brahman cattle. Pictured: Wave Hill Station © Provided by Daily MailUnder the deal, $56million was offered up for the land with the remaining $48million set aside for 40,000 Brahman cattle. Pictured: Wave Hill Station

The workers were not only protesting against their working and living conditions but also were demanding 3,250 square km of land be returned to its traditional owners.

Protests lasted for nine years until the Whitlam government in 1975 brokered an agreement between the Gurindji people and the Vestey Group.

The historic settlement concluded with a handover ceremony and ensured a section of land would remain in the control of traditional owners.

The Wave Hill Station is the second foray into the Northern Territory for Jumbuck after purchasing the Killarney Station, also in the Victoria River District, for $35m in 2014.

Jumbuck also runs about a dozen sheep and cattle properties across South Australia, Western Australia and New South Wales.

Daily Mail Australia have contacted Jumbuck for comment on the purchase.

Gough Whitlam et al. posing for the camera: Wave Hill Station played a key role in the history of Indigenous land rights after 200 Gurindji stockmen in 1966 walked off the job and went on strike. Pictured: Vincent Lingiari (pictured left) accepts the Gurindji land handback from Prime Minister Gough Whitlam (pictured right) © Provided by Daily MailWave Hill Station played a key role in the history of Indigenous land rights after 200 Gurindji stockmen in 1966 walked off the job and went on strike. Pictured: Vincent Lingiari (pictured left) accepts the Gurindji land handback from Prime Minister Gough Whitlam (pictured right) a close up of some grass: One of Australia's largest beef producers Western Grazing put the 1.25 million hectare property up for sale after three decades as part of a strategic review of their operations. Pictured: Wave Hill Station © Provided by Daily MailOne of Australia's largest beef producers Western Grazing put the 1.25 million hectare property up for sale after three decades as part of a strategic review of their operations. Pictured: Wave Hill Station Read more
24. helmikuuta 2021 2:48:37 Categories: Daily Mail

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