The deal, finalised this week following approval from the Foreign Investment Review Board and other regulators in key export markets, gives the U.S. agrifood giant 100% ownership of Australia’s second-largest beef processor.
The transition coincides with a major leadership shift. Former Managing Director and Chair Brad Teys departed the business, closing a chapter on the Teys family’s 79-year involvement in the Australian beef industry. Andrew MacPherson, a long-serving Executive across both Cargill and Teys, has stepped into the Chief Executive role.
Despite the ownership change, the company will continue to operate under the Teys Australia name.
Teys employs around 5,000 staff across its extensive operations, which include six processing plants in Queensland, South Australia and New South Wales; three feedlots across the eastern states; value-added sites in Brisbane and Wagga; and the Teys USA sales and distribution arm.
Cargill said the acquisition ensures long-term stability for employees, producers and partners while preserving the Teys legacy.
MacPherson, based in Brisbane, will lead the company’s Australian beef operations and livestock procurement. His career spans almost two decades with Cargill Australia before the 2011 merger, followed by 12 years in senior roles at Teys, including CEO from 2021 to 2023.
The Teys family announced in June 2025 that it would exit the joint venture, selling its 50% stake to Cargill. A retrospective interview with Brad Teys by Cargill is expected to follow in the coming weeks.
