When combined, Altora Ag and AFF, both owned by Canada’s PSP Investments, will farm on over 270,000 hectares across Australia. AIM | 12 June 2026
Altora Ag to merge with Australian Food & Fibre creating massive annual cropping business
By Lynda Kiernan-Stone
Altora Ag, a company formed through a merger between Daybreak Cropping and BFB Pty Ltd in February 2023, is now being incorporated into Australian Food & Fibre (AFF) to create a market-leading Australian annual cropping company.
“The combination will take advantage of geographic overlap and operational efficiencies as well as providing greater ability to pursue growth opportunities, based on shared capabilities,” noted a statement on the AFF website. “Altora Ag is a producer of cereal, legume, oilseeds, and other crops, with a footprint of properties across Australia.”
AFF has farming operations in the MacIntyre, Gwydir, Namoi, Macquarie and Murrumbidgee Valleys, and on the Darling River, where the company uses best management practices to produce cotton, wheat, beef, and wool across 118,892 hectares (293,800 acres).
Once created, Altora Ag became a broadacre operation spanning more than 153,000 hectares in New South Wales, Western Australia, Queensland, and Victoria.
Both Altora Ag and AFF are owned by Canada’s PSP Investments, with AFF being a joint venture between PSP Investments and New South Wales-based grain and cotton growers and processors, the Robinson Family.
During the transition period, Joe Robinson will serve as both managing director of AFF and CEO of Altora Ag, and once the merger is complete, will serve as managing director of the new entity.
This merger follows just months after PSP Investments signed a Memorandum of Understanding (MoU) under the Canadian–Australian Pension Funds Investment Initiative (CAP Invest Initiative), pledging to voluntarily participate in a framework that strengthens collaboration between Canadian and Australian long-term pension investors.
As part of this agreement, the parties also commit to building awareness of investment models that leverage the expertise of long-term and reliable pension capital with the goal of delivering risk adjusted returns for investee companies.
At the time, PSP Investments noted its belief that there is significant opportunity to boost investment between the two countries of Canada and Australia.
“I’m proud of the strong relationships our team has built in Australia and excited about the role we can continue to play through this initiative,” said Deborah Orida, president and CEO, PSP Investments.
“For more than a decade, Australia has been an important market for us. This Memorandum of Understanding strengthens cooperation among like-minded long-term investors and helps create the conditions for durable value and essential infrastructure that supports people and communities.”