Thomas Foods International has bought the South Australian sheep and cattle station, Mt Schanck for more than $50 million.
The Evans family, whose patriarch is former AFL chairman Ron Evans, sold the 2870 hectare property set south of Mount Gambier.
The deal was negotiated by CBRE a week before its expression of interest campaign was set to close.
The ABC reported in 2016 that Thomas Foods was a South Australian-based company that had emerged to become the largest family-owned processor in the country, the third-biggest processor in the country behind corporate giants JBS and Teys Australia.
Ron Evans and his wife Andrea purchased Mt Schanck off-market from the Clarke family in 2002, according to Fairfax Media.
The Clarke family owned Mt Schanck for more than 140 years, having purchased it in 1861 from the Arthur brothers of Van Diemen's Land.
It came with close to 5000 megalitres of water entitlements.
The Adelaide-based Thomas Foods has annual revenue of more than $1 billion.
The media mogul Kerry Stokes and veteran cattleman Peter Murray have yet to find a buyer for their 7820-hectare Cygnet Park Farms portfolio on Kangaroo Island which is up for sale asking about $50 million.
Buyers have been spoilt for choice as Hassad Australia sold its SA farming land on the Eyre Peninsula and Mid North including 7106 hectares at Cummins and Ungarra spread across 11 farms being marketed by Elders.