Agricultural investor will lease farms to new partner DiOrsa Farms, a merged entity controlled by the Diaco and Orsida families
Melbourne-based Warakirri Asset Management has added to its Warakirri Farmland Fund portfolio, completing the acquisition of five premium fruit orchard assets in the Cobram region of Victoria.
Expanding on the fund’s existing horticultural holdings in the region, the new Mayview Farms aggregation brings a further 250ha of premium stonefruit, apple, pear and citrus plantings to this diversified portfolio of high-value horticulture and vineyard investments.
Forming part of a broader transaction involving well-known industry participants Diaco Fresh, Orsida Fresh and the Bright Food-owned Mildura Fruit Company, the fund will lease the assets to new tenant partner, DiOrsa Farms, under a long-term agreement.
Founded through the merger of existing fruit production enterprises controlled by the Diaco and Orsida families, the new vertically integrated DiOrsa Farms business brings together two long-established, previously independent growing and packing operations with the investment and operational expertise of Mildura Fruit Company and Bright Food.
Combining generations of growing experience with integrated packing, logistics and global market capabilities, in total the platform will control over 480ha of productive orchard area in one of Australia’s key fruit growing regions.
Steve Jarrott, portfolio manager at Warakirri, said: “This investment aligns strongly with our approach of partnering with experienced growers and supply chain participants to support the development of sustainable, long-term horticultural businesses and adds a number of further high-quality assets to the Warakirri Farmland Fund portfolio.”
Matthew Orsida, representative of the Diaco and Orsida families, said the formation of DiOrsa Farms represents the next stage in the evolution of their businesses.
“This transaction allows us to combine generations of growing experience with strong commercial partners and long-term agricultural capital. DiOrsa Farms provides the scale and integration needed to continue investing in orchard productivity and supply high-quality fruit to both domestic and international markets.”
Warakirri noted the acquisition reflects its continued commitment to investing in high-quality Australian agricultural assets and partnering with experienced operators to build sustainable farming businesses. Along with the acquisition of established tree crop assets, the A$25mn Mayview Farms strategy also features a significant parcel of high security water entitlements and capital for upgrades and development, in a deal that is accretive to the fund’s current return profile.
