Billionaire OTR Founder Charlie Shahin Acquires Australia's Largest Sheep Station

A monumental shift in Australia's agricultural sector has occurred with the sale of the country's largest contiguous sheep station to Adelaide billionaire businessman Khalil (Charlie) Shahin.

A Historic Acquisition

The acquisition comprises three historic South Australian stations—Commonwealth Hill, Mobella, and Bulgunnia—covering a vast combined area of approximately 1.29 million hectares in the state's far north-west. The properties were purchased for an undisclosed sum after spending roughly two months on the market.

Mr Shahin, whose family built their fortunes by founding the On The Run (OTR) petrol station and convenience store network, commands a combined family wealth of $1.93 billion. This places them among the top 95 wealthiest families or individuals in the nation according to this year's Rich List. The family originally arrived in Australia as Palestinian refugees in the 1980s, and went on to establish OTR before selling the network for $1.2bn in 2023, a transaction finalised last year. Peregrine Corporation, the parent family company, was started by Fred Shahin with the purchase of a single service station in 1984.

The End of an Era for Jumbuck Pastoral

On the other side of the deal is Jumbuck Pastoral, the company name for the MacLachlan family farming dynasty. Established in South Australia in 1888 by HP MacLachlan at Paratoo Station near Yunta, Jumbuck has grown over nearly 140 years into one of Australia's oldest and most influential agricultural empires, spanning South Australia, Western Australia, and New South Wales.

Elders Real Estate chief executive Tom Russo, who handled the sale, declined to specify the final purchase price but highlighted the scale of the transaction. Speaking to SA's Country Hour, Mr Russo described the vast parcel of land as "some of the largest sheep productions ever offered to the market".

According to Mr Russo, the sale drew substantial attention. "We saw corporate investors, both domestic and international, have a good look at this asset. We also saw really strong incumbent local pastoral families participate in the process and run the ruler over the assets," he noted.

The sale is part of Jumbuck Pastoral's strategic succession planning. "Like all families, there comes a point in time where succession planning needs to be done and ... they've divested a few stations now," Mr Russo explained. He added, "We can see now that that's the end of that ... and the group [Jumbuck Pastoral] … is now divided up between the siblings and they'll continue to run individual assets themselves and get on with creating their own legacies."

The transaction marks a quick turnaround for a pastoral lease capable of carrying over 83,300 sheep. Mr Russo remarked on the buyer's efficiency, stating, "He knows what he's looking for and he acts quickly and decisively."

The new owner is no stranger to farming. Mr Russo pointed out that "Charlie actually has agriculture in his blood. He studied agronomy back in the day … Charlie intends to keep running it as a sheep station. I think we can probably see an enterprise change in terms of perhaps some dorpers into the production mix."

Ambitious Agricultural Expansion

The purchase is the latest in a string of agricultural acquisitions by Mr Shahin, his wife, and his daughters under their business group, ATAYF. In 2024, the family expanded their landholdings by purchasing the 408,000-hectare Aileron cattle station in the Northern Territory.

In a statement issued through Elders on Mr Shahin's behalf, the chairman of ATAYF shared that owning and working with agricultural assets had been "a lifelong ambition" of his. "This acquisition is a long-term family investment. We intend to build on the foundations established by Jumbuck, support the existing operations and continue investing in the productivity and resilience of the enterprise for future generations," he stated.

He expressed optimism for the sector, adding, "We have great confidence in the future of the Australian sheep and wool industry. Demand for high-quality natural fibre and premium protein continues to grow globally and Australia remains uniquely positioned to meet that demand."

Looking to the Future

Jumbuck Pastoral's decision to sell off the stations, which employ 23 staff across Commonwealth Hill, Mobella, and Bulgunnia, was described in a company newsletter as having "not been made lightly". While the adjoining Mulgathing station was not part of the deal, the sale marks the conclusion of an era for the MacLachlans.

A statement provided on behalf of MacLachlan Pastoral Group executive director Callum MacLachlan emphasised the importance of passing the land to a buyer "who understood the significance of the assets, respected the work of the people who have managed them and shared our belief in the future of Australian agriculture".

The statement expressed strong faith in the Shahin family: "We have come to know Charlie [Shahin] and his family through this process and believe they will be excellent custodians of the aggregation." It further noted, "Their commitment to long-term investment, family values and Australian agriculture gives us great confidence that these stations have a bright future ahead of them."

"While this transaction represents the end of one chapter, we are pleased that the next chapter will be written by another South Australian family with a genuine passion for the land and a multi-generational perspective," the statement concluded.

This divestment follows Jumbuck's recent trend of breaking up its holdings. Last year, Jumbuck sold Rawlinna, its million-hectare station in Western Australia, to the UK-based Consolidated Pastoral Company (CPC) for an undisclosed sum. That transaction, which included a flock of approximately 30,000 sheep, was subject to regulatory approvals including the Foreign Investment Review Board and the Western Australian government's sign-off on the pastoral lease transfer.