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Nth Qld players in Stanbroke deal
18 Sep 2003
North Queensland families are amongst the key players in the consortium that bought Stanbroke Pastoral Company in early September. The consortium comprises a six-part group called Nebo Holdings and Investments.
Ralph and Beverley Rea of Mirtna, Charters Towers, and John and Jan Burnett of Bendemeer, Charters Towers each own 5 per cent stakes. Central Queensland cattlemen Wally Rea of The Overflow also owns 5 per cent.
Former Stanbroke director Peter and wife Jane Hughes of Tierawamba, Nebo own a 10 per cent share, while Peter Menegazzo, owner of multiple rural interests in Queensland, NSW and Victoria, has the largest shareholding with 50 per cent.
Sydney-based Jack Cowin, founder of Competitive Foods which owns more than 200 Hungry Jack's outlets, has 25 per cent.
Nebo Holdings and Investments paid $490 million for the 11.7 million hectares of properties, spread throughout Northern Territory and Queensland, following a five-month tender period.
North Queensland Register, 18/9/03.
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