(Reuters) -Private equity group KKR will acquire ProTen, one of Australia’s largest broiler chicken growers, from pension fund Aware Super, the parties said in a joint statement on Wednesday without disclosing financial details.
ProTen was established in 2001 and currently manages more than 700 poultry sheds across more than 60 farms. The company has been owned by Aware Super since 2018.
“KKR has been actively monitoring the agricultural infrastructure space as a high-conviction thematic,” Andrew Jennings, managing director and head of Australia & New Zealand infrastructure at KKR, said in a statement.
KKR will make the investment in ProTen from its Asia Pacific Infrastructure Investors II Fund, which has grown its assets under management to about $13 billion since it was established in 2019.
The deal is expected to close later this year, subject to regulatory approvals.
(Reporting by Himanshi Akhand in Bengaluru; Editing by Mrigank Dhaniwala)
