Australian Food & Fiber (AFF), a joint venture between Canadian retirement investment manager PSP Investments and the Robinson family, an Australian farming company, has acquired cotton producer Auscott.
AFF purchases Auscott, including properties, ginning, warehousing and marketing operations from JG Boswell Company in a deal valued at around A $ 500 million (â¬ 320 million).
PSP Investments Senior Managing Director and Global Head of Natural Resources Marc Drouin said: âAFF’s acquisition of Auscott represents an important milestone and the latest in a series of strategic initiatives the company has launched. and implemented since the creation of our joint venture. “
AFF Managing Director Joe Robinson said: âAuscott’s six decades of activity in the sector reflects Australia’s leadership position in the global high-quality cotton scene and the importance of ‘a long horizon for the creation of value. â
Robinson said the combined group (Auscott-AFF) will continue to be very supportive of the communities in which it currently operates.
AFF is an irrigated online cultivation company headquartered in Moree, North New South Wales. In 2017, she formed a joint venture with PSP Investments to expand its business.
Ashley Power, CEO and Managing Director of Auscott, said, âThe combination of Auscott and AFF creates production, processing and marketing across this integrated supply chain.â
James W Boswell, President and CEO of JG Boswell Company, said: âOur company has been involved in the development of Auscott for three generations. It has been part of our life since 1963. “
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