The Tinkler Group has announced an agreement for the sale of its thoroughbred racing and breeding operation Patinack Farm.
The sale to Cibola Capital, a consortium of local and overseas parties from the Middle East, will be on a “walk in, walk out” basis.
Cibola Capital CEO Daniel Kenny said the consortium will grow the business by investing in breeding and racing across Australia and internationally.
“We are planning to expand the current operation by offering a mixture of proven and new stallions,” he said. “We look forward to announcing our stallion line-up and operational structure in the coming weeks.”
Patinack Farm comprises three major properties including a stud in the NSW Hunter Valley, a training facility and stud on the Gold Coast and 950 acres of undeveloped property at Monegeetta in Victoria.
The sale was for an undisclosed sum and includes Patinack’s current bloodstock portfolio of some 600 horses.