End of an Era: Teys Family Sells Final Stake in Australia's Second-Largest Beef Processor to Cargill
In a significant shift for Australia’s red meat industry, the Teys family has announced it will sell its remaining 50% stake in Teys Australia to long-time joint venture partner and global agribusiness giant, Cargill.
The surprise move will see Cargill become the sole owner of Teys Australia and Teys USA, consolidating full control of one of Australia’s largest and most recognisable beef processing operations.
The deal will involve Cargill, through a wholly owned subsidiary, acquiring all shares in Teys Investments Pty Ltd from the Teys family. Once complete, this will mark the end of more than 75 years of family ownership for the Teys business, which began as a small meatworks run by four brothers in South East Queensland.
A Strategic Transition, Backed by Long-Standing Partnership
The Teys family cited the longstanding partnership with Cargill spanning 14 years as a key factor in its decision to sell. With a broad shareholder base and strong legacy in the beef industry, the family said now was the right time to hand over stewardship to a global food leader.
Brad Teys, Executive Chairman and grandson of one of the founding brothers, said the values of integrity, quality and honesty that built the business will remain at the heart of Teys Australia moving forward.
“We are immensely proud to have grown from a family business into a globally respected food brand. Cargill has played a pivotal role in our transformation, and we’re confident they will continue to grow the business in a way that honours its legacy,” Mr Teys said.
Cargill’s Executive Vice President, Jon Nash, reaffirmed the company’s commitment to the Australian beef sector, saying the acquisition would strengthen supply chains and continue the delivery of high-quality, nutritious Australian beef to customers both at home and around the world.
“We’re honoured by the Teys family’s trust and look forward to continuing our work with Australian producers and supply chain partners,” Mr Nash said.
What This Means for Australian Producers
For cattle producers across the country, the move is expected to provide continuity and stability. Teys has long been a key buyer of Australian livestock, sourcing cattle for its extensive processing network.
Teys Australia operates major beef processing plants in:
- Queensland: Beenleigh, Biloela, and Lakes Creek (Rockhampton)
- New South Wales: Tamworth and Wagga Wagga
- South Australia: Naracoorte
The company also runs large-scale feedlots at Condamine (QLD), Jindalee (NSW), and Charlton (VIC), as well as value-adding and distribution centres near Brisbane and at the Port of Brisbane.
For producers in regions where Teys is a major processor or buyer, the company has assured business as usual with the added scale and backing of Cargill’s international network.
Next Steps
The sale remains subject to standard regulatory approvals and is expected to be finalised in the second half of 2025. A new CEO will be appointed by Cargill, and Brad Teys will work closely with the leadership team to ensure a smooth handover.
Source: Beef Central