One of Canada’s largest pension investment managers has invested in leading Australian nut producer Stahmann Farms (SFE).
Public Sector Pension Investment Board (PSP Investments) was yesterday (8 May) revealed as a shareholder in SFE, Australia’s largest pecan grower and processor.
SFE’s existing owners will retain a substantial stake in the business, with the current management team and workforce to continue in their roles.
“PSP Investments is … uniquely positioned to seize opportunities and maintain its investments for the long term,” SFE said in a release. “PSP Investments is an agile investor focused on developing strong partnerships with best-in-class and like-minded local operators.”
SFE is a vertically integrated nut business with interests in pecans, macadamias and a consumer packing division that supplies retailers throughout Australia and around the world. The company is headquartered in Toowoomba, Queensland, with additional farms near Moree in New South Wales.
PSP Investments’ shareholding paves the way for a number of expansion projects at SFE, on the back of booming global demand for tree nuts.
“Future investment is expected to support regional development in new and existing locations in New South Wales and Queensland, promoting skilled employment and leading to increased export earnings over the long term,” the SFE release added.