M&A Advisory
K&L Gates
Full Credential Description
Centuria Capital Group faced the challenge of expanding its agriculture assets under management while ensuring the acquisition of high-quality, strategically located facilities. The specific opportunity arose with the acquisition of Katunga Fresh’s 21-hectare glasshouse facility in Katunga, Victoria, a site that has been operational for 20 years and is a significant supplier of tomatoes to major Australian supermarkets. This facility not only includes advanced lighting technology for year-round production but also features large packing sheds, energy infrastructure, and substantial water resources, making it a prime asset for Centuria's investment strategy. K&L Gates provided a tailored solution by facilitating the acquisition through an off-market sale-and-leaseback transaction secured on a 20-year triple net lease deal. This strategic approach allowed Centuria to enhance its Centuria Agriculture Fund (CAF), increasing its total agriculture assets under management to AU$0.65 billion and expanding its glasshouse to over 100 hectares. The acquisition aligns with Centuria's goal of developing one of Australia’s largest sector-specific agriculture funds, providing investors with access to critical food production infrastructure. The results of this acquisition are significant, as it not only strengthens Centuria's position in the agriculture sector but also ensures a stable income stream through the long-term lease with a reputable tenant. The successful execution of this complex transaction was praised by Centuria's Chief Investment Officer, highlighting the diligence and expertise of the K&L Gates team throughout the process.
Measurable Results
Successfully completed $0.65B transaction