Rural Funds Group (ASX:RFF) is seeking acquisitions. David Bryant, Managing Director of Rural Funds Group, has flagged further acquisitions in northern Australia cattle and cotton properties, amid the best farming conditions he has witnessed in two decades. "I've been observing the rural sector 20 years and this is the best it's ever been," said David Bryant. "There's lots of confidence and optimism, not just for cattle and almonds, but across all sectors, and its not misplaced in my view." "A lot of these assets are underdeveloped ... we're confident of acquiring these assets and then improving them," David Bryant said.
Rural Funds Group is an Australia-based real estate investment trust (REIT). The Company owns a diversified portfolio of agricultural assets that are leased predominantly to corporate agricultural operators. It is primarily engaged in the development and leasing of agricultural properties and equipment. The Company leases almond orchards, macadamia orchards, vineyards, cattle properties, cropping properties, agricultural plants and equipment, cattle, and water rights. The Company holds three almond orchards approximately 4,068 planted hectares; six vineyards approximately 636 planted hectares; 13 macadamia orchards approximately 1,906 planted hectares; seven properties with areas to be developed into macadamia orchards with 2,520 hectares; 23 cattle properties made up of 18 breeding, backgrounding, and finishing properties and five cattle feedlots with a combined capacity of 150,000 head, and 15 cropping properties approximately 14,573 hectares.