REVEALED: World's biggest grower joins Gympie firm
PHIL Zadro and the Zadro family's Saratoga Holdings group, has recently purchased 29.9 per cent of Suncoast Gold Macadamias, a farmer owned macadamia nut processing plant based in Gympie.
The Saratoga Holdings group is considered to be the world's largest macadamia grower.
The Zadro family's interest in macadamia nuts kicked off in northern NSW in 1979.
It has grown to include plantations in Bundaberg, Childers, Moore Park, Mt Bauple and Emerald, with more farms and a processing plant under construction in the Mpumalanga region of South Africa.
In a recent visit to Suncoast Gold's processing facility the CEO of Saratoga Holdings, Peter Zadro said "the investment in Suncoast Gold was to ensure there was enough processing power in Queensland for the industry's rapidly increasing levels of production."
Also it is a philosophy of the Saratoga group and Hinkler Park Plantations (the Qld branch) to support local businesses and communities".
The demand for Australia's only native commercial nut crop continues to outpace supply and growers have seen prices increase year on year for a record seven years.
The purchase of shares in Suncoast Gold will help Hinkler Park Plantation to process their crop as newly planted orchards mature, with the increasing yields experienced in older orchards and the future planned plantings.
The Zadro family have well over 9000 acres (3642ha) of macadamia orchards in Australia and South Africa, two nurseries in Qld and another in Mpumalanga, with a total carrying capacity of about 900,000+ trees, along with interest in several processing facilities across both countries.
Suncoast Gold, operating for over 35 years, is recognised as a supplier of the highest quality raw kernel and roasted macadamia products to customers all over the world.
Suncoast Gold board and managers welcome this investment and see it as a vote of confidence in the operations of the company.
Geoff Chivers, chair of Suncoast Gold said:
"The investment from the Zadro family is a real plus for all our grower shareholders and suppliers.
"We have the capacity, experience and markets to process and sell all nuts that are supplied by the Zadro's. The investment was also an opportunity for those individuals who had left the industry through farm sale or retirement to sell their shares to a family who is committed to the future of the macadamia industry".