“Packer sells his steak
April 14, 2009 Business Day
The Packer family’s 26-year involvement in Australia’s cattle industry has ended with the finalisation of the sale of its stake in Consolidated Pastoral Company (CPC).
The pastoral division of Consolidated Press Holdings, CPC was formed in 1983 by Kerry Packer with the purchase of a cattle station in the Northern Territory. His son, James Packer, now controls the company.
It has since grown to 17 properties in Western Australia, NT, Queensland and New South Wales, totalling five million hectares in size and over 300,000 cattle.
It was announced in March that Consolidated Press Holdings had sold its 90% stake in CPC to English private equity firm Terra Firma.”