Cargill Beef Australia and Teys Bros (Holdings) Pty Ltd (Teys Bros) announced that they have agreed to form a joint venture company. The new company will be a 50-50 joint venture and trade under the name of "Teys Australia – A Cargill Joint Venture." The proposed joint venture is subject to regulatory approvals.
Board representation will be shared equally by Cargill and Teys. Allan Teys will be chairman, and Brad Teys will serve as the CEO in the new company. Geoff Teys will be responsible for cattle procurement. The company's head office will be located in Beenleigh, Queensland.