An agreement has been reached for the sale of Auscott to Australian Food and Fibre.
In a statement, Auscott said the transaction is for the whole company, by way of a 100 per cent share sale and includes all properties as well as the ginning, warehousing, classing, and marketing businesses.
“The bringing together of Auscott and AFF creates significant production, processing and marketing scale across this integrated supply chain,” chief executive officer and managing director of Auscott Ashley Power, said.
“This will support mill and brand customers in terms of a much larger, reliable, traceable supply from production through to the mill.
“This efficient supply chain will also support growers and the industry as Auscott continues to provide ginning and marketing services as it has done for 58 years”.
“We are proud of our history of achievement and support of the development of the Australian cotton industry,” James W Boswell, chairman and CEO of JG Boswell Company, the owner of Auscott, said.
“We have stood together with growers, employees, and the community for over 58 years, to build something truly world class.”
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