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KKR Acquires ProTen, Expands Agri Infra Footprint in Australia - InforCapital

KKR acquires poultry infrastructure leader ProTen from Aware Super to scale sustainable food systems in Australia.

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Alvaro de la Maza

Partner at Aninver

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Key Takeaways

  • KKR, KKR Asia Pacific Infrastructure Investors II Fund (KKR APA II) acquired Aware Super.
  • Sector: Agriculture Agribusiness & AgTech.
  • Geography: Australia.

Analysis

Global investment firm KKR has signed definitive agreements to acquire ProTen Pty Limited, one of Australia’s largest agricultural infrastructure businesses, from Aware Super, marking a significant bet on sustainable protein and food security infrastructure.

Founded in 2001, ProTen owns and operates more than 700 poultry sheds across 60+ farms in major agricultural zones across Australia. The company plays a key role in delivering high-quality, sustainable chicken protein to Australian households.

KKR will acquire ProTen through its Asia Pacific Infrastructure Investors II Fund, further expanding its footprint in the ANZ infrastructure market. The transaction builds on KKR’s history of investing in essential services, including energy, transportation and utilities across the region.

“This investment is a rare opportunity to acquire a high-quality agri-infrastructure platform backed by long-term contracts and strong sector dynamics,” said Andrew Jennings, KKR’s Head of Infrastructure for Australia and New Zealand. He added that ProTen is positioned for long-term growth amid rising demand for resilient food systems and sustainable protein sources.

Aware Super, which manages A$190 billion on behalf of 1.2 million members, has owned ProTen since 2018. During its stewardship, ProTen’s operational footprint and land holdings expanded significantly, making it a national leader in poultry infrastructure.

“We’re proud of the transformation achieved at ProTen,” said Jiren Zhou, Aware Super’s Portfolio Manager for Infrastructure. “This exit is a strong result for our members and reflects the strength of our disciplined, long-term investment approach.”

ProTen CEO James Wentworth emphasized continuity for customers, noting that the company’s focus and leadership will remain unchanged under KKR’s ownership. “We look forward to our next chapter with a partner that understands growth and scale.”

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