S. Kidman & Co

S. Kidman & Co is one of Australia's largest beef producers with a herd of 185,000 cattle.[1] The company has pastoral leases covering 101,000 square kilometres in the states of Queensland, South Australia and Western Australia and the Northern Territory. Kidman cattle stations produce grass-fed beef for export to Japan, the United States of America and South East Asia.[2]

S. Kidman & Co
IndustryFarming
Founded1899
FounderSidney Kidman
Headquarters
North Adelaide
Area served
Northern Territory
Queensland
South Australia
Western Australia
Revenue$62 million (2015)
Websitewww.kidman.com.au

History

S. Kidman & Co was founded in 1899 by Sidney Kidman. He was one of the greatest pastoral landholders in Australian history and became known by the nickname of "The Cattle King".[3]

Operations

S. Kidman & Co is still the largest private landholder in Australia, although now on a much smaller scale. The entire landholding was placed up for sale in 2015, eleven cattle stations with a total area of over 100,000 square kilometres (38,610 sq mi) with a herd of 155,000 cattle.[4] The total value of the company was estimated at A$360 million with two Chinese companies, Genius Link Asset Management and Shanghai Pengxin, interested in acquiring the company. The sale was blocked by the Treasurer of Australia Scott Morrison who cited the national interest clause in the Foreign Investment Act.[5] In 2015, Kidman recorded $62 million in livestock sales reflecting an increase of 10.71% on the previous year.[6]

In October 2016, a Hancock Prospecting (67%) / Shanghai CRED (33%) joint venture lodged a bid for the company.[7] A counter bid was later lodged by Equity Trustees.[8][9]

References
  1. "Morrison approves Rinehart's cattle empire purchase". www.abc.net.au. 9 December 2016. Retrieved 8 September 2020.
  2. S. Kidman & Co. (2016). About S. Kidman & Co. [online] Available at: http://www.kidman.com.au/about/ [Accessed 4 May 2016].
  3. S. Kidman & Co. (2016). About S. Kidmanx& Co. ยป Sir Sidney Kidman [online] Available at: http://www.kidman.com.au/sir-sidney-kidman/ [Accessed 3 August 2016].
  4. Caroline Winter and Brooke Neindorf (10 April 2015). "World's largest cattle station up for sale as country's biggest private landholding goes on the market". Australian Broadcasting Corporation. Retrieved 21 November 2015.
  5. Peter Hartcher, James Massola and Jared Lynch (20 November 2015). "Kidman cattle stations: Andrew Robb criticises Scott Morrison's 'political' decision to block sale". Sydney Morning Herald. Fairfax Media. Retrieved 21 November 2015.
  6. Cranston, M. and Stensholt, J. (2015). S. Kidman & Co delivers $50m profit, sells $25m stock portfolio. [online] Australian Financial Review. Available at: http://www.afr.com/real-estate/s-kidman--co-delivers-50m-profit-sells-25m-stock-portfolio-20151004-gk17sx [Accessed 29 Apr. 2016]
  7. S Kidman & Co: Gina Reinhart, Shanghai CRED make joint bid for cattle empire ABC News 10 October 2016
  8. Australian super fund launches $400m late bid for Kidman Beef Central 14 October 2016
  9. Equity Trustees behind late bid for S Kidman Australian Financial Review 14 October 2016
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