Belgium’s Finasucre, which has controlled the Queensland business for more than two decades has tapped Lazard Australia and Kidder Williams.
Street Talk can reveal the owners of one of the country’s best-known supermarket brands, Bundaberg Sugar, have hired two banks to run a buyer search in what could be one of the biggest deals of the year.for more than two decades,
is understood to be considering a sale, tapping Lazard Australia’s Campbell Ray and Kidder Williams’ Tim Faulkner to find a buyer. The business is expected to generate earnings before interest, tax, depreciation and amortisation of around $25 million next year, and is slated to fetch a value around the $600 million mark.Gregory Heath
Bundaberg Sugar is Australia’s largest cane grower and the only fully integrated sugar business with significant land, water, milling and refining operations. It owns one of the largest land and water portfolios in the highly sought-after Bundaberg region with 13,000 hectares of highly productive agricultural land and 38,000 megalitres of water entitlements.
The decision to put Bundaberg Sugar on the auction block comes after Finasucre received inbound interest in the assets, understood to have come from those eyeing it as a source of green energy. While Bundaberg is a crucial supplier of refined sugar in the domestic sugar market, its sugarcane is a primary feedstock for ethanol, among other green fuels.
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