Cargill acquires full ownership of Australian beef business

Cargill Inc., confirmed on June 5 its plan to purchase 100% of the share capital of Australian beef processor Teys Investments Ply Ltd.

The Teys Family, who started the business in 1946, decided it was the appropriate time to sell the business to Cargill, a partner shareholder during the last 14 years.

The multinational food company will now take full ownership of Teys Australia and Teys USA. The two companies began their joint venture in 2011.

“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,” said Brady Teys, executive chairman for Teys. “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.”

Terms for the deal were not disclosed.

According to Cargill, completion of the change of ownership is subject to certain customary conditions precedent, including applicable regulatory approvals. The deal is expected to be completed by the second half of 2025.