Latest news with #AndrewJennings
Yahoo
02-07-2025
- Business
- Yahoo
KKR Bets On Sustainable Protein Demand With ProTen Investment In Australia
KKR & Co. Inc. (NYSE:KKR) has struck a deal on Wednesday to acquire ProTen Pty Limited, a major player in Australia's poultry farming infrastructure, from Aware Super, a leading Australian pension fund. The agreement marks a strategic move by KKR to further expand its investments in the agricultural sector. Founded in 2001, ProTen operates hundreds of poultry sheds across more than 60 farms, playing a crucial role in the country's poultry production and food supply will channel funds from its Asia Pacific Infrastructure Investors II Fund to execute the transaction, which is pending regulatory approval and expected to close later in the year. The acquisition is aimed at fueling the next phase of ProTen's expansion and maintaining its leadership in the protein supply space. Andrew Jennings, who heads KKR's infrastructure operations in Australia and New Zealand, said the deal offers exposure to a 'high-quality' agriculture platform backed by steady, long-term contracts. Jennings added that ProTen's strong positioning, coupled with the country's increasing appetite for sustainable and secure protein sources, makes it an attractive asset for growth. Aware Super, which has managed ProTen since 2018, helped broaden the business's national footprint and quadruple its property base. Jiren Zhou, infrastructure portfolio manager at Aware Super, said the fund's active management approach delivered strong outcomes for its 1.2 million members while reinforcing its global infrastructure portfolio, now valued above 20 billion Australian dollars ($13.14 billion). James Wentworth, ProTen's CEO, credited Aware Super's commitment and strategic investments for enabling significant customer growth. He emphasized that the company's operational structure and mission would remain unchanged under KKR's ownership as they continue delivering affordable, sustainable poultry to Australian consumers. The deal adds to KKR's growing footprint in the region, following investments in Zenith Energy, Queensland Airports Limited, Spark Infrastructure, and Ritchies Transport. Since 2019, the firm's Asia Pacific infrastructure division has scaled to manage around $13 billion in assets. According to Benzinga Pro, KKR stock has gained over 25% in the past year. Investors can gain exposure to the stock via VanEck ETF Trust VanEck Alternative Asset Manager ETF (NYSE:GPZ) and EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF (BATS:LBO). Price Action: KKR shares are trading higher by 1% to $133.75 premarket at last check Wednesday. Read Next:Photo via Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? KKR (KKR): Free Stock Analysis Report This article KKR Bets On Sustainable Protein Demand With ProTen Investment In Australia originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Herald Sun
02-07-2025
- Business
- Herald Sun
Somerset Poultry at Murgheboluc sold for millions to ProTen
Don't miss out on the headlines from Victoria. Followed categories will be added to My News. Australia's largest chicken meat farmer has been sold by the $190bn Aware Super pension fund, with American investors swooping in to secure the huge enterprise. ProTen, Australia's largest broiler farming business, has been sold to American global private equity and investment company, Kohlberg Kravis Roberts & Co (KKR). Financial terms of the sale remain undisclosed. In May it was reported KKR was circling the broiler business with a leading bid of about $1.3bn. Founded in 1987 in New Zealand, ProTen had been owned by Aware Super since 2018, with the company producing 68 million birds annually at the time. However, under Aware Super's-backing ProTen expanded to grow a whopping 174 million birds per year, or about 25 per cent of Australia's annual consumption, supported by more than 700 poultry sheds across over 60 farms nationally. 'Our investment in ProTen is a unique opportunity to acquire a high-quality agricultural infrastructure asset, supported by availability-based long-term contracts, that plays an essential role in the food supply chain,' KKR managing director and head of Australia & New Zealand Infrastructure Andrew Jennings said. 'ProTen is very grateful for the longstanding relationship it has enjoyed with Aware Super. Over the last seven years they have been unwavering in their commitment to and investment in the business,' ProTen CEO James Wentworth said. The ProTen transaction is expected to close later this year, subject to customary regulatory approvals. The change of ownership at ProTen comes as the chicken grower secured a top-tier poultry operation located in Victoria's Golden Plains region, 21km west of Geelong. Listed for sale earlier this year, the Somerset Poultry property spans 82ha at Murgheboluc, offering six state-of-the-art broiler sheds growing almost 300,000 birds per batch. The sale price of Somerset Poultry remains undisclosed, but is understood to have traded in line with initial expectations. Somerset Poultry was offered to the market with price expectations of a $1.1m EBITDA and an anticipated yield in the vicinity of 9 per cent. The asset was also offered to the market including its long-term grower agreement with the Turosi Food Solutions Group. JLL Agribusiness agents Chris Holgar, Chris Lawlor and Jock Grimshaw handled the sale of Somerset Poultry. Mr Holgar said the transaction underlined ongoing investor appetite for high-quality poultry infrastructure underpinned by secure long-term agreements. Water security at Somerset Poultry is secured from Barwon Water (via a private main), the Barwon River, bore water and extensive on-farm dam storage of about 50ML. Originally published as American investors snap up huge Aussie chicken farmer
Business Wire
02-07-2025
- Business
- Business Wire
KKR Acquires ProTen from Aware Super
SYDNEY--(BUSINESS WIRE)--KKR, a leading global investment firm, and Aware Super, a leading Australian super fund, today announced the signing of definitive agreements under which funds managed by KKR will acquire ProTen Pty Limited (' ProTen '), one of the largest agricultural infrastructure businesses in Australia, from Aware Super. Established in 2001, ProTen develops, owns, and operates farm infrastructure for Australia's poultry supply chain, and plays an important role in supporting access to affordable, sustainable nutrition for Australian households. Today, the company manages poultry infrastructure including more than 700 poultry sheds across over 60 farms, located in key agricultural regions nationwide. Aware Super, which manages A$190 billion on behalf of its 1.2 million members, has owned ProTen since 2018 and has overseen significant growth in the business. Aware Super's infrastructure team expanded ProTen's operational footprint across all states, along with a four-fold expansion of its property portfolio. KKR's investment will build on ProTen's position for continued growth and its operational excellence in the poultry supply chain. Andrew Jennings, Managing Director and Head of Australia & New Zealand (ANZ) Infrastructure, KKR, said, 'Our investment in ProTen is a unique opportunity to acquire a high-quality agricultural infrastructure asset, supported by availability-based long-term contracts, that plays an essential role in the food supply chain. KKR has been actively monitoring the agricultural infrastructure space as a high-conviction thematic. We are impressed by the quality of ProTen's assets, its long-term contractual relationships with its customers, and the favorable dynamics within the poultry industry. As demand for sustainable protein and resilient food supply increases in Australia, we believe ProTen is well placed for continued growth. We look forward to leveraging KKR's global network, operational expertise, and deep experience in scaling businesses to support ProTen.' Jiren Zhou, Aware Super Portfolio Manager - Infrastructur e, said, ' We are proud to have grown ProTen into the leading business it is today, through our active stewardship of the business. Following seven years of significant investment, we are delighted to achieve this result on behalf of our members, to grow their retirements funds and deliver long-term sustainable returns. This is an excellent example of how Aware Super's disciplined and long-term approach has strengthened the fund's high quality, diversified infrastructure portfolio, which currently has more than A$20 billion invested globally. ' James Wentworth, CEO of ProTen, said, 'ProTen is very grateful for the long-standing relationship it has enjoyed with Aware Super. Over the last seven years they have been unwavering in their commitment to and investment in the business. This support and the hard work of our team has enabled us to service and grow with our customers. We look forward to an exciting new chapter with KKR. Our business, management and focus will remain unchanged – partnering with our customers to feed Australia.' KKR is making this investment from its Asia Pacific Infrastructure Investors II Fund. This marks KKR's latest infrastructure investment in the ANZ region. Past investments include Zenith Energy, a leading independent remote power producer in Australia; Queensland Airports Limited in Australia, which consists of four airports in Queensland, including Gold Coast Airport; Spark Infrastructure, which owns high-quality, regulated electricity networks across Australia; and Ritchies Transport, a leading transportation operator in New Zealand. KKR's Asia Pacific infrastructure platform has grown to approximately US$13 billion in assets under management since it was established in 2019. The transaction is expected to close later this year, subject to customary regulatory approvals. About ProTen ProTen is one of Australia's largest broiler chicken growers, setting the benchmark in broiler farm operations and development. Established in 2001, the business operates over 700 poultry sheds across more than 60 broiler farms spanning New South Wales, Victoria, South Australia, Western Australia, and Queensland. Driven by the mission 'We grow the chickens', ProTen is committed to contributing to the health and wellbeing of Australians by delivering affordable, sustainable, high‑quality protein. Find out more at: About KKR KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group's website at About Aware Super Aware Super is one of Australia's top-performing and largest industry super funds with a core objective of delivering the strongest risk-adjusted returns for its 1.2 million members. Our Australian and London-based investment teams currently originate and manage A$190 billion AUM on behalf of our members. As one of the top 50 institutional investors globally, we typically take an active management approach across alternative assets, including infrastructure, real estate and private equity, and additionally allocate to liquid markets. Returns for our A$20 billion infrastructure portfolio are driven by a globally-diversified program which captures global trends in demography, sustainability and technology to achieve a broad universe of assets. It has a targeted focus on opportunities in Europe, North America, Australia and Asia with a sector focus on energy transition and digital opportunities. Visit
Business Times
17-06-2025
- Business
- Business Times
KKR buys Australian off-grid power specialist Zenith Energy
[SYDNEY] KKR has agreed to buy Australia's Zenith Energy, a provider of off-grid power systems, from a group including Pacific Equity Partners Pty, Opseu Pension Trust and Foresight Group Holdings. The investment firm did not provide a value for the deal, but said in a statement that it followed Zenith's completion of a A$1.9 billion (S$1.6 billion) refinancing that provided the company with more than A$1 billion of capital to support the development of new projects. KKR will make the investment from its Asia-Pacific Infrastructure Investors II Fund. KKR paid A$1.7 billion at 12 times contracted earnings, according to two people close to the deal. KKR and Zenith declined to comment on the price. Zenith has more than 710 megawatts of contracted capacity with resource-sector clients and urban microgrids, according to Tuesday's statement. The Perth-based company is seeking to help Australia's mining sector speed up efforts to reduce its emissions, chief executive officer Hamish Moffat said. 'Zenith has established itself as one of the clear leaders in deploying and managing hybrid power solutions in Australia, a priority market for KKR in Asia Pacific,' said Andrew Jennings, KKR's managing director and head of Australia & New Zealand Infrastructure. 'Zenith's position at the forefront of the energy transition, coupled with its long-term relationships with strategic, high-quality counterparties, make it an ideal investment for our Asia-Pacific infrastructure platform.' The transaction is expected to close late this year. BLOOMBERG
