The Hawkins family has bought the 2800-hectare Frances Farm Portfolio from the failed Camperdown Dairy for $13 million.
The portfolio in Victoria’s Western Wimmera area and the south-east of South Australia comprising three farms – Frances, Minimay and Bool Lagoon – was to form part of a planned $500 million vertically integrated dairy operation set up by coal miner Bill McDonald.
Mr McDonald, a former Financial Review Young Rich Lister, bought into Camperdown Dairy in 2015 with plans to build up a 40,000-strong dairy herd, spend about $200 million upgrading the Camperdown milk factory and export milk products to China.
In July, Camperdown Dairy was placed in administration owing $60 million, with KordaMentha appointed. It joined a number of milk powder ventures that collapsed in the wake of...
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