June 5, 2025
Teys Investments Pty Ltd – owners of the large hide-processing plant on the outskirts of Murgon – is set to be fully taken over later this year by USA-based multinational Cargill.
The deal will require Foreign Investment Review Board approval, however Cargill is already a large investor in the Teys group.
Cargill currently owns 50 per cent of subsidiaries Teys Australia and Teys USA, a joint partnership which began in 2011.
As well as the hide-processing plant at Murgon, Teys operates feedlots, abattoirs, food processing plants and a meat distribution business, with sites in Queensland, NSW, Victoria and South Australia.
Teys announced the Cargill buyout on its website on Thursday.
A wholly owned subsidiary of Cargill has agreed to purchase all of the issued share capital of Teys Investments from Teys family shareholders.
As a result, Cargill will increase its ownership stake to 100 per cent of Teys Australia and Teys USA (Teys), two of the primary operating companies which are currently jointly owned by Teys and Cargill.
The Teys company statement said the diversified family shareholder base had decided it was the appropriate time to transfer their interests to Cargill, “a partner shareholder for the past 14 years and global leader in the food and protein industries”.
“The transfer of ownership provides continuity for Teys’ people, partners and producers, and will ensure that it continues to serve as a leading provider of healthy, high-quality Australian beef products and a buyer of Australian livestock destined for local and international customers.” the statement continued.
The Teys family has been involved in the Australian beef industry since 1946, when four Teys brothers formed a partnership that was involved in wholesaling and retailing meat in south-east Queensland.
Since then, the family has grown its business to become one of the largest meat processors and exporters in Australia, operating across a diverse range of agribusinesses.
“My grandfather started this business more than 75 years ago with his brothers, and the family values of integrity, quality and honesty have stayed constant as we’ve evolved into the global food brand we are today,” Teys executive chairman Brad Teys said.
“The Teys family is immensely proud to have grown our business into a premier provider of beef to our customers and Australian families. Cargill has been instrumental in our transformation into a world-class food company. We are confident they are the best owner to grow the business into the future.”
Cargill spokesperson Jon Nash said both Cargill and Teys were family-owned businesses.
“(We) share the same commitment to nourishing Australia and the rest of the world in a safe, responsible and sustainable way,” Mr Nash said.
“We are grateful to the Teys family for this opportunity to continue working alongside Australian livestock producers, who are pivotal to the agricultural supply chain, and to assure the delivery of high-quality and nutritious beef to family dinner tables across the country and globe.”
Teys said the completion of the change of ownership was subject to certain conditions, including regulatory approvals, but was expected to be completed in the second half of this year.
Cargill will name a new CEO of Teys in due course.
Footnote: The Murgon hide-processing plant was originally opened by Burnett Valley Ltd in October 1991 as a wet blue tannery; Teys bought the facility in 2005.
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