One of the largest agricultural transactions in Australian history has topped the 2025 land sales across the nation.

The $500 million acquisition of the Kooba Aggregation by Canadian pension giant PSP Investments.

The aggregation, located between Griffith and Darlington Point, is a high-value hub for cotton, irrigated row crops, and livestock, supported by massive Murrumbidgee River water entitlements.

The deal sees PSP Investments take 100 per cent control of the 31,400-hectare asset, buying out co-investors Chris Corrigan and David Fitzsimons.

The sale solidifies PSP Investments as Australia’s largest farmland holder by value, with a total domestic portfolio now estimated at $8.5 billion.

Following the buyout, PSP has split the management of the aggregation between its two primary Australian operating platforms: Australian Food and Fibre (AFF) and Stahmann Webster.

A joint venture between PSP and the Robinson family, AFF will manage the cotton, broadacre cropping, and livestock operations.

A PSP-owned entity, Stahmann Webster has assumed control of the 1,400 hectares of almond orchards and apiary assets.

This transaction marks the exit of veteran businessman Chris Corrigan from his largest agricultural holding.

In the past, Corrigan cited frustration with the Federal Government’s water buyback policies as a primary driver for the sale.

The consolidation of Kooba under the AFF banner strengthens the vertically integrated supply chain for the Hay Cotton Gin, located southwest of Hay.

AFF acquired the Hay Gin as part of its purchase of Auscott Limited in 2021.

Managed by Managing Director Joe Robinson, AFF now operates six gins across New South Wales.

The addition of Kooba’s substantial cotton production into the AFF portfolio is expected to provide increased volume and operational certainty for the Hay facility, which enjoyed a record ginning season last year.

This article appeared in The Riverine Grazier, 14 January 2026.