Teys Family Sells Decades Old Meat Business to Cargill
Teys Family to Sell Remaining Stake in Meat Processing Giant to Joint Venture Partner Cargill
Brisbane, Australia – June 5, 2025 – The Teys family, a prominent name in the Australian meat processing industry for generations, has announced its decision to exit the sector. Teys Investments Pty Ltd will sell its 50% share in Teys Australia and Teys USA to its longstanding joint venture partner, the US-based global food and agriculture giant Cargill. Upon completion, Cargill will assume 100% ownership of the operations.
The move marks the end of an era for the Teys family, whose involvement in the Australian meat industry dates back to 1946. The family partnered with Cargill in 2011 to form the Teys Australia joint venture, which grew to become the second-largest beef processor in the country.
According to a joint statement, the Teys family, with its diversified shareholder base, determined that this was the opportune moment to transfer its interests to Cargill. The decision is said to ensure continuity for Teys’ employees, partners, and livestock producers.
“The Teys family is immensely proud to have grown our business into a premier provider of beef to our customers and Australian families,” said Brad Teys, Executive Chairman of Teys. “Cargill has been instrumental in our transformation into a world-class food company. We are confident they are the best owner to grow the business into the future.”
Jon Nash, Executive Vice President and Leader of Cargill’s Food Enterprise, commented, “As family-owned businesses, both Cargill and Teys share the same commitment to nourishing Australia and the rest of the world in a safe, responsible and sustainable way. We are grateful to the Teys family for this opportunity to continue working alongside Australian livestock producers.”
The transaction encompasses Teys Australia’s network of beef processing plants located in Queensland (Beenleigh, Biloela, Lakes Creek), New South Wales (Tamworth, Wagga Wagga), and South Australia (Naracoorte), as well as Teys USA, its North American sales and distribution arm.
The completion of the sale is contingent upon customary conditions, including regulatory approvals, and is anticipated to be finalized in the second half of 2025. Cargill has indicated it will appoint a new CEO for Teys in due course and will collaborate closely with Brad Teys to facilitate a smooth transition. It is understood that Teys will likely continue to operate as a distinct entity within Cargill’s broader operations.
Financial details of the transaction have not been publicly disclosed.
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