Billionaire beef battle sizzles as Andrew Forrest buys $11.6m wagyu stake

“I’m not surprised you have billionaires sitting on the register, all thinking they can do something about it.

“You really need someone with the right distribution, right channels around the world, right branded restaurants to sell those products to – someone with really big brand power to push this business or realise the value of this one.”

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Tavistock’s portfolio, which encompasses more than 200 companies across 13 countries, includes 16 restaurants and 8 hotels.

“Tavistock Group’s holdings are diverse and significant in scale,” its website states. “We routinely invest for the long term and take an active operating role.”

Airlie Funds Management star stockpicker John Sevior noted a common theme among Forrest’s investments was Australian agriculture.

“He’s not the shy, retiring type. It’s in his nature to want to make the play,” he said. The next question is: is there a bigger strategy? How far does he take it? Is there a big consolidation play?”

“My only thesis that I would proffer is: it feels like an asset diversification play in a broad industry where Australia does have some historical completive advantage.”

The slightly larger stake brings Forrest closer to the 20 per cent threshold, at which point he would have to make a takeover bid.

“As a proudly Australian company, Tattarang’s investment is part of our ongoing commitment to investing in Australian businesses and brands that support local jobs,” Tattarang chief executive John Hartman said in a statement.

Tattarang has had some changes at the top lately. Hartman replaces former NAB executive Andrew Hagger as chief executive of the $30 billion private investment vehicle after Hagger departed suddenly last month. Meanwhile, former Reserve Bank deputy governor Guy Debelle, who joined Fortescue Future Industries in June, on Wednesday announced to its board he was stepping down from his role as chief financial officer, citing health issues from a serious bicycle incident.

AACo reported a 27.7 per cent increase in operating profits to $38.3 million in the six months to September 30, compared with the same period last year, off the back of higher meat prices.

However, it has not paid a dividend to shareholders in 14 years.

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