An Argentinian agricultural powerhouse has significantly expanded its Australian footprint, acquiring the vast Aroona Station in the Northern Territory for a substantial $44 million. This latest acquisition by Cross Pacific Investments, finalised on March 10th, cements the Buratovich family’s growing presence in the Territory’s vital cattle industry. The deal is understood to encompass not only the sprawling 147,510-hectare property but also its existing equipment and an estimated 15,000 head of prime cattle.
The Buratovich family is no stranger to large-scale agricultural operations. Their extensive portfolio spans broadacre cropping across South America and the United States, where they cultivate a diverse range of commodities including wheat, barley, peas, lentils, sorghum, and cotton. Aroona Station, strategically located on the Victoria Highway approximately 90 kilometres south-west of Katherine and bisected by the Flora River, now becomes the fifth Northern Territory station under their ownership. This latest purchase propels their total landholdings in the NT to an impressive 756,000 hectares.
A Growing NT Portfolio
The family’s Northern Territory expansion has been a rapid and strategic one. Prior to the Aroona Station acquisition, they had already secured Scott Creek, Manbulloo, and Sturt Downs in a series of transactions in 2019, collectively valued at $43 million. This was followed by the purchase of Stapleton Station in 2021 for a reported $7.3 million. Interestingly, when the Buratovich family first acquired their initial NT stations in 2019, initial reports suggested a primary focus on cropping rather than cattle. However, recent developments, particularly the Aroona Station purchase, indicate a strong and evolving commitment to the pastoral sector.
The Buratovich family’s agricultural roots run deep, tracing back over a century to ancestors who emigrated from Croatia to Argentina. Today, their business serves a broad clientele of over 400 clients, predominantly situated in the Argentinian provinces of Buenos Aires and Chaco. This long-standing expertise and expansive operational capacity undoubtedly inform their strategic investments in Australia.
Aroona Station: A Premier Breeding Block
Aroona Station is widely recognised as a “renowned breeder block,” a testament to its exceptional suitability for cattle breeding. According to Colliers, the real estate agency that managed the two-year marketing campaign for the property, Aroona boasts an average annual rainfall of 900 millimetres, a critical factor for sustaining productive pastures.
The property’s topography is described by Colliers as varied and advantageous, featuring:
- Gently undulating flats.
- Low hills and rising country.
- Escarpments with plateau tops.
- Extensive alluvial channels.
- Flood plains.
- Basalt country.
This diverse landscape provides a robust foundation for a thriving cattle operation. Furthermore, in late 2023, a significant land clearing permit was granted for nearly 4,000 hectares on the station, potentially paving the way for further operational enhancements and pasture development.
A Notable Ownership History
Aroona Station carries a notable history of ownership, having previously been in the possession of mining magnate Gina Rinehart. Mrs Rinehart acquired the station in 2017 for $13.5 million through her company, Hancock Prospecting. During her ownership, Hancock Prospecting invested over $3 million in station improvements, including a substantial $630,000 allocated to a “digital mobile radio system,” aimed at enhancing communication and operational efficiency across the vast property.
In 2021, Mrs Rinehart divested Aroona Station for $22.75 million to the DiGiorgio family from South Australia. The DiGiorgio family, known for their winery operations in Coonawarra and their involvement in sheep and cattle farming in the region, held the property until its recent sale to Cross Pacific Investments. Upon their purchase of Aroona, Frank DiGiorgio had indicated to ABC Rural that the family intended to maintain the existing management practices and cattle program, stating they would not be “reinventing the wheel.” This suggests a continuity of established, successful operations at Aroona, which the Buratovich family is now set to build upon.
