FOR IMMEDIATE RELEASE:

AAAW GROUP ANNOUNCES ACQUISITION OF KURO KIN WAGYU
COMPANY PURCHASES PREMIER AUSTRALIAN WAGYU BREEDING OPERATION

SYDNEY, AUSTRALIA: April 26, 2016 — Australian agribusiness AAAW Group is pleased to announce its purchase of Kuro Kin Wagyu, one of Australia’s most prestigious Wagyu studs. Renown for developing some of the best performing Fullblood Wagyu marbling genetics outside of Japan, the acquisition will consolidate AAAW Group’s position as a major contributor to the Australian and global Wagyu beef industry.

Located in Scone, in NSW’s Upper Hunter Valley, Kuro Kin Wagyu will operate under AAAW Group’s Hunter Beef portfolio. The running of the cattle station will remain under the management of former owner, Peter Bishop and his expert staff.

“We are very proud to have acquired Kuro Kin Wagyu, and the longstanding legacy both the property and Peter’s vision brings to our Hunter Beef portfolio,” says Michael Wang, Managing Director of AAAW Group.

The acquisition will build upon Kuro Kin Wagyu’s successful farmgate template and consolidate the company’s extensive domestic and international supply lines to meet the ongoing demand for premium-quality Australian beef.

“For the Chinese consumer, food security and provenance is the number one priority. By maintaining control and traceability in our paddock-to-plate supply chains we can provide stakeholders and consumers with the finest farmgate model and value proposition, which no other Australian or Chinese corporation supplying beef to China can match,” adds Mr Wang.

This includes Australian stakeholders having unprecedented access to Dashang’s large-scale sales distribution network and a market reach of over 100 million established consumers.

Plans to export live cattle from Australia to the Chinese port city of Dalian are also underway; a direction that will capitalise on AAAW Group’s traceable, clean and green premium Wagyu beef and further drive the Australian economy.

“Economic growth in China presents significant opportunities for Australian suppliers of beef. Our long term goal is to maintain and create stakeholders partnerships and diversify our supply of premium Wagyu and Angus beef to China as Australia’s No 1 exporter,” says Mr Wang.

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About AAAW Group:
AAAW Group [Australia Aulong Auniu Wang Group Pty Ltd] is a leading Australian agribusiness and exporter to China with landholdings in New South Wales, Tasmania, and Queensland.

Founded in 2015 and headquartered in Sydney, AAAW Group is an independent division of Dashang Group, the largest retailer in northeast China. The Australian portfolio comprises Hunter Beef, Kuro Kin Wagyu and Tasfruits (formerly TopQual), one of the largest fruit suppliers in Tasmania.

AAAW Group is also incorporated within the global arm of Dashang’s sales distribution network that includes 300 stores in 150 cities across China.

For further information:
Contact: Armen Arakelian
aarakelian@pinnaclefinefoods.com.au