Crunch time for orchard sale
Jubilee Almonds has been advised on the sale of its orchards to Select Harvests.
Firms: Laity Morrow (Jubilee Almonds); MinterEllison (Select Harvests)
Deal: Select Harvests acquired the Jubilee Almonds orchards.
Value: $26.5 million
Key players: The Laity Morrow team was led by directors Kerry Morrow (pictured) and Philip Laity, supported by senior associate Jessica Teoh.
Deal significance: Jubilee Almonds operates 464 hectares of almond orchards near Waikerie, in South Australia’s Riverland region. At full maturity, it has the capacity to produce over 1,400 metric tonnes of almonds.
Adelaide firm Laity Morrow advised Jubilee Almonds on its acquisition by ASX-listed almond producer Select Harvests.
Select Harvests is one of Australia’s largest almond producers, with orchards in NSW, Victoria and South Australia. It describes Jubilee Almonds’ orchards in an ASX announcement as a great asset.
The deal was closed on 28 April 2017.