Stanbroke Pastoral Company

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Stanbroke Pastoral Company was a company once owned by AMP Limited that was once one of the largest land owners in Australia.

Established in about 1964, by 2003 the company owned 27 cattle stations in Queensland and the Northern Territory controlling some 1,160,000 square kilometres (447,879 sq mi) of pastoral country.[1]

Properties owned by Stanbroke included; Augustus Downs, Davenport Downs and Tanbar Stations and in Queensland and Banka Banka, Brunchilly, Lake Nash and Helen Springs Station in the Northern Territory.[2]

The company was purchased in 2004 by the Nebo Group who paid A$417.5 million plus taking on outstanding debts. The sale was by far the largest rural transaction in Australia's history and included a herd of approximately 5000,000 cattle.[3] The Nebo group were a consortium made up of the founder of Hungry Jack's, Jack Cowin, the nation's largest potato grower, Peter Menegazzo and five prominent pastoral families led by Peter Hughes.[3] The syndicate fell apart later the same year leaving Menegazzo in charge of the entire business.[4] Menegazzo bought out his fellow investors for an estimated A$340 million. On 2 December 2005, Menegazzo and his wife Angela were killed in a light plane crash in outback New South Wales leaving their four children Brendan, Mark, Deborah and David in charge of the business.[5]

References[edit]

  1. ^ Bateman, Georgia (1 April 2003). "Rumoured sale of Stanbroke Pastoral Company". Retrieved 7 June 2014.
  2. ^ Leonie Wood (31 March 2003). "Talk of AMP selling Stanbroke could spark a stampede". Sydney Morning Herald. Fairfax Media. Retrieved 21 August 2017.
  3. ^ a b Clarke, Sarah (12 September 2004). "Winners and losers - the sale of Stanbroke". Landline. Australian Broadcasting Corporation. Retrieved 30 June 2014.
  4. ^ Hopkins, Philip (5 May 2004). "Menegazzo takes over all of Stanbroke". Sydney Morning Herald. Fairfax Media. Retrieved 30 June 2014.
  5. ^ Gettler, Leon (16 April 2014). "As far as the eye can see: The families who own the most of Australia". Business Spectator. Retrieved 16 August 2015.