Ontario Teachers’ Pension Plan, a global investor with net assets of $242.5 billion, has acquired a majority equity interest in Mitolo Family Farms and its Australian agriculture subsidiary AustOn Corp.

Mitolo Family Farms is a grower, harvester, packer and marketer of fresh potatoes and onions in Australia. AustOn is the Australian agriculture arm of Ontario Teachers’ and has operated in Australia since 2018. The Mitolo family will retain a significant ownership stake in Mitolo Family Farms.

“Ontario Teachers’ and AustOn have a proven track record in investing in the farming sector both in Australia and worldwide, and we are focused on using this experience to deliver long-term, sustainable growth with Mitolo Family Farms,” comments Christopher Metrakos, senior managing director, natural resources at Ontario Teachers’.