Another chapter has been added to the troubled history of northern meatworks in Australia with the Kimberley Meat Company near Broome in WA and its parent company being placed into voluntary administration.
Kimberley Meat Co plant near Broome
Administrators were appointed to the Kimberley Meat Company on 27 February and to its parent company Yeeda Pastoral Company and several associated companies on 29 February.
The first meeting of creditors was being held from 3pm AEDT today as Beef Central’s daily news email was sent to subscribers.
The Yeeda group of companies has been the subject of a WA Government investigation into more than 400 cattle deaths in 2022 and the illegal dumping of abattoir waste, and also has been at the centre of reports alleging it owes more than $5 million in unpaid debts.
The group’s major shareholder is Hong Kong-based equity fund Asia Debt Management Capital (ADM Capital), which has agricultural investments worldwide, including irrigated tree cropping, stockfeed and commodities trading businesses in Australia.
Yeeda and Kimberley Meat Co was ADM’s first investment in the Australian red meat supply chain.
Kimberley Meat Company founder Mervyn Key sold his 45 percent stake in…