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Highlights

  • KKR signs agreement to acquire ProTen from Aware Super for undisclosed amount
  • ProTen operates over 700 poultry sheds across more than 60 farms in Australia
  • Transaction expected to close later this year, pending regulatory approvals 

KKR (NYSE: KKR) has entered into definitive agreements to acquire ProTen Pty Limited, a major agricultural infrastructure business focused on Australia’s poultry supply chain. The acquisition will be made through funds managed by KKR, purchasing the company from Aware Super, one of Australia’s largest superannuation funds. 

Founded in 2001, ProTen owns and operates more than 700 poultry sheds across over 60 farms nationwide, serving as a key component in the country's food production infrastructure. KKR, a global investment firm managing assets across private equity, credit, and infrastructure, described the investment as aligned with its interest in long-term, availability-based agricultural assets. The company operates through various strategies and platforms, including its Asia Pacific Infrastructure Investors II Fund, under which this investment is being made. 

ProTen's infrastructure footprint expanded significantly under Aware Super’s ownership since 2018. The super fund stated its infrastructure team led a four-fold growth in ProTen’s property portfolio, expanding across all Australian states. Aware Super currently manages A$190 billion on behalf of 1.2 million members, with an infrastructure portfolio exceeding A$20 billion globally. 

Andrew Jennings, KKR’s Head of Infrastructure for Australia and New Zealand, noted, “Our investment in ProTen is a unique opportunity to acquire a high-quality agricultural infrastructure asset… supported by availability-based long-term contracts.” He added that the firm sees continued demand for sustainable protein and resilient food supply as favorable conditions for the sector. 

ProTen’s CEO, James Wentworth, said the business would remain focused on partnering with customers to “feed Australia,” and acknowledged Aware Super’s role in supporting its growth over the past seven years. 

The transaction is subject to customary regulatory approvals and is expected to close later in 2025.