Trump announces trade deal with EU following months of negotiations
SYDNEY - Investment firm KKR (NYSE:KKR), a prominent player in the Capital Markets industry with a market capitalization of $117.94 billion, announced Wednesday it has signed definitive agreements to acquire ProTen Pty Limited, one of Australia’s largest agricultural infrastructure businesses, from Aware Super. According to InvestingPro data, KKR maintains a "GOOD" financial health score, suggesting strong positioning for strategic acquisitions.
ProTen, established in 2001, develops, owns, and operates farm infrastructure for Australia’s poultry supply chain. The company currently manages over 700 poultry sheds across more than 60 farms located in key agricultural regions throughout Australia. For investors interested in KKR’s acquisition strategy, InvestingPro reveals that the company has maintained dividend payments for 16 consecutive years and its liquid assets exceed short-term obligations, indicating financial stability for such strategic moves.
Aware Super, which manages A$190 billion on behalf of 1.2 million members, has owned ProTen since 2018. During its seven-year ownership, Aware Super expanded ProTen’s operational footprint across all Australian states and quadrupled its property portfolio.
"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," said Andrew Jennings, Managing Director and Head of Australia & New Zealand Infrastructure at KKR.
James Wentworth, CEO of ProTen, said, "Our business, management and focus will remain unchanged - partnering with our customers to feed Australia."
KKR is making the investment from its Asia Pacific Infrastructure Investors II Fund. This acquisition adds to KKR’s infrastructure investments in the Australia-New Zealand region, which include Zenith Energy, Queensland Airports Limited, Spark Infrastructure, and Ritchies Transport.
The transaction is expected to close later this year, subject to customary regulatory approvals. Financial terms of the deal were not disclosed in the press release statement.
KKR & Co. Inc. (NYSE:KKR) is a global investment firm that offers alternative asset management, capital markets, and insurance solutions. Aware Super is one of Australia’s largest industry super funds with approximately A$190 billion in assets under management.
In other recent news, KKR & Co. has been the subject of significant developments. Piper Sandler initiated coverage on KKR with an overweight rating, setting a price target of $150. The investment firm highlighted KKR’s strong position in private equity and its growing focus on the insurance segment. Meanwhile, TD Cowen maintained its Buy rating on KKR, with a $148 price target, citing positive growth outlooks and improved investor sentiment. In another development, KKR is involved in a takeover bid for Assura alongside Stonepeak, valued at approximately $2.3 billion. Assura had initially supported the bid, although there are competing interests from British healthcare real estate investor Primary Health Properties. Additionally, KKR-owned Marelli Corp filed for Chapter 11 bankruptcy, securing $1.1 billion in financing to support its restructuring plan. Marelli emphasized that operations are expected to continue without disruption during this process. Furthermore, China’s sovereign wealth fund, China Investment Corp., canceled a planned $1 billion sale of US fund stakes, which included interests in KKR.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.