Daybreak Cropping consolidated with BFB to form a new broadacre entity called Altora Ag

Two of the nation’s best-known corporate farming groups — in charge of a collective 55,000ha of farmland in WA — have merged to create a new broadacre cropping entity called Altora Ag.

Daybreak Cropping — which has until now had its properties managed by Warakirri Asset Management — announced this week it had merged with BFB to create Altora Ag, four years after Daybreak set up shop in WA.

Both Daybreak and BFB are tied to Canada’s Public Sector Pension Investment Board, one of the nation’s biggest pension investment managers using funds transferred by Canada’s Gov-ernment.

The news was rolled out across Daybreak Cropping’s social media platforms on February 2, with a post on Twitter saying the business was “extremely proud” of its role in creating a “leading broadacre cropping platform” during the past seven years.

The move means Altora now runs more than 55,000ha of property in WA and 41 properties across 10 aggregations in Queensland, NSW, Victoria and WA.

Daybreak’s WA footprint included three farms — Erregulla Plains at Mingenew (18,000ha), Bodallin Farms near Merredin (12,570ha), and Waddikee Farms near Ravensthorpe (6500ha).

The properties once owned by BFB are Woodlands, a 6371ha farm near Hyden, and EDL farms (9227ha) near Newdegate.

Former BFB boss Shane Bird has been appointed chief executive at Altora, with BFB’s general manager Stuart Wiencke appointed chief operating officer.

Both also serve as board directors alongside other board members Ricardo Eusebi, Maurice Felizzi, and Donald Fyfe.

WA-based Troy Bunge, who was Daybreak’s operations manager, is the new general manager for Altora’s west division.

The PSP Investment Board announced plans for the merger in April, with the move expected to drive efficiencies and growth through on-farm improvements.

Mr Bird told Countryman this week Altora had been designed to “simplify operating structures” and capture benefits from an operational scale, while driving growth, performance and results.

“It will deliver continuous improvements in on-farm practices, with a particular emphasis on sustainability,” he said.

“The WA properties will reap all the benefits of the combination.”

Mr Bird said the national merger had led to many process and system improvements, but there had been no change to on-farm staff levels — including in WA.

“The creation of Altora Ag creates greater opportunities for employee development,” he said, while also revealing the company would continue to “investigate growth opportunities”.

Daybreak was established in 2016, with the broadacre cropping business managed by prominent agricultural farmland management group Warakirri.

The latter has now cut cropping ties with Canada’s PSP in WA but will continue running PSP’s majority-owned Aurora Dairies, which includes 39 dairy farms..

Daybreak’s first WA purchase was Waddikee Farms in 2018, before buying Bodallin Farms in 2019 for an undisclosed amount.

In 2020, Daybreak set a new WA farmland record when it bought of Erregulla Farms for $97.62m. near Mingenew,

The 22,192ha farm, founded by Sir Eric Smart, held a WA farmland price record until January, when the 8554ha Cherylton Farms near Kojonup sold for $100m.