Historic sheep stations sold in $300m deal

By the Editorial Team · Thursday, October 15, 2026

Historic sheep stations Boonoke and Wanganella, part of the Deniliquin Aggregation in NSW Riverina, were sold to Banyandah Pastoral for approximately $300 million. This transaction significantly expands the Shippen family's wool-growing operations and highlights continued consolidation in Australia's pastoral industry.

Two of Australia’s most historic sheep stations, Boonoke and Wanganella, have been sold as part of a major transaction valued at approximately $300 million. The properties, which form part of the Deniliquin Aggregation located in the New South Wales Riverina region, were acquired by pastoralists Ian and Camilla Shippen, operating as Banyandah Pastoral from Moulamein, NSW. The sale reportedly settled earlier this month.

The Deniliquin Aggregation spans roughly 123,000 hectares and includes Boonoke, Wanganella, and additional properties such as Baratta, Peppinella, Warriston, and Zara. These stations are historically significant as the birthplace of the modern Merino sheep breed. Along with the extensive grazing land, the aggregation encompasses a 12,000-head cattle feedlot at Conargo, 18,726 megaliters of water entitlements, 4,542 hectares of irrigated land, 390 hectares of dryland cultivation, and a carrying capacity rated at 160,000 dry sheep equivalent.

The Shippen family is among Australia’s leading wool producers, operating one of the largest family-owned wool-growing enterprises with approximately 115,000 hectares across the western NSW Riverina and Victoria's western district. The acquisition expands their portfolio further in the region.

This transaction follows a series of developments involving the broader Australian Food and Agriculture (AFA) portfolio. Initially, in September 2024, AFA was acquired by Agriculture & Natural Solutions Acquisition Corporation, a NASDAQ-listed special purpose acquisition company, in a $780 million deal. However, this agreement collapsed in April 2025.

Subsequently, by December 2025, the Coonamble hub of the AFA holdings, covering 45,362 hectares, was purchased by farmer and grazier Malcolm Harris through his company, Cleveland Agriculture. Meanwhile, the Hay Aggregation, comprising 57,000 hectares including Burrabogie, Kolora, Wahwoon, Mulberrygong, and North Cobran properties along with a 35,471 megaliter water portfolio, remains on the market with anticipated offers exceeding $200 million.

The recent sale of Boonoke and Wanganella to Banyandah Pastoral marks one of the largest transactions in Australia’s pastoral sector this year, reflecting ongoing consolidation and investment in the country’s wool-growing and cattle industries.

This article was reported by synthesizing coverage from multiple independent news outlets to present a balanced, unbiased account. Read about our editorial standards. Spotted an error? Let us know.