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11 February 2022
Gooree management sets the record straight on land sale
Reports earlier this week that suggested Gooree had sold their wagyu beef operations located outside of Mudgee has put management on the back foot, insisting that the record be set straight.
The Australian Financial Review published an exclusive on Sunday, 6 February - that was later reported on radio - which said that land near Mudgee had been snapped up for almost $17 million by champion horse race owner, Neil Werrett and facilitated by Inglis Rural Property.
Jeanette Tioseco, Managing Director at Gooree said people had misunderstood the stories to mean that the wagyu business had been sold and other headlines said that Gooree itself had been sold. Also, the exact dollar value of the sale hasn't been confirmed but the $17 million figure is apparently incorrect, according to people familiar with the sale.
"There were some facts that I have to clarify because it appeared like we sold the wagyu business, which we didn't," she said.
"What we have just actually sold is just the land, the Biraganbil property." The sale of the land included a handful of cows but none of the equipment that was already there, which has now been moved.
Gooree Park refers to the thoroughbred horses and wine operation. Around Mudgee the entire operation is colloquially called Gooree by locals. The remaining land around the area will continue to be developed to further bolster the wagyu operations.
Established by the late billionaire Eduardo Cojuangco Jr, Gooree Park had three main elements: wine, thoroughbred breeding and training and commercial wagyu beef operations.
"We want to concentrate and develop both all of Cullenbone and Galambine to accomodate more cattle now that we have sold the Biraganbil property," Jeanette said.
"The wagyu operation continues as it always has been and we continue to produce these F1s cattle."
Jeanette also wanted to reassure businesses who purchased their products that things would remain as they have been. "The full-blood wagyu operation of Gooree continues at our other remaining properties," she said.
"We definitely want to develop Gooree and maximise its potential1 ."