Float among Wellard growth options
One of Australia’s biggest agribusinesses is weighing up its options for growth and could take on a partner or list on the ASX.
Fremantle-based Wellard is a dominant force in livestock exports from Australia. It has a fleet of four live- stock carriers, processes up to 2500 sheep and lambs a day at its Beaufort River meats abattoir and owns eight farms covering 35,700ha in WA.
The company, owned by Mauro Balzarini and his family, is chasing capital for growth and to reduce debt.
It has been working on an expansion into meat processing in China and in 2014-15 exported a company-record 389,327 cattle despite its flagship carrier, the Ocean Drover, being out of action for almost six months after a fire while docked at Fremantle.
Wellard considered a partial sale or restructure after a $52 million loss in 2012-13.
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