Leading Hunter Valley thoroughbred breeding facility Emirates Park and Queensland's Aquis Farm have today announced a new joint venture that will see Aquis Farm take over management of Emirates Park's Murrurundi property, facilities and stallion roster.
Hussain Lootah, son of His Excellency Nasser Lootah, Founder and Chairman of Emirates Park, said the joint venture between the Lootah and Fung families would create a new force in the Australian thoroughbred breeding and racing industry.
"For some time now we have been looking for a like-minded partner to share our vision for taking Emirates Park to the next stage of its growth and development and in Aquis Farm and the Fung family we believe we have found the perfect partner," he said.
"We are excited by this joint venture and what it will mean for both the Emirates Park and Aquis Farm businesses going forward and I personally very much look forward to being able to develop the leading band of broodmares in Australia in the next few years."
Aquis Farm CEO Justin Fung said that he and his father, Tony, were excited to be entrusted with the management of the Emirates Park property, facilities and stallions but more excited to have found great friends and business partners in the Lootah family.
"We see the sky as the limit in our vision to grow the respective Aquis and Emirates businesses in Queensland and New South Wales," Mr Fung said.
Emirates Park CEO Bryan Carlson said the joint venture was the perfect outcome for the aspirations of the Lootah family.
"It will allow the family to focus on developing their Australian based high class quality broodmare band as well as their international thoroughbred interests, whilst Aquis focuses on operational activities at Emirates Park on a day to day basis as well as management of the great Emirates stallions Artie Schiller, Dream Ahead and Al Maher," he said.
Mr Carlson said a key component of the joint venture was Aquis' commitment to retaining all the existing Emirates Park staff.
Emirates Park Director Dr Shalabh Sahu, who was instrumental in bringing the Lootah and Fung families together, said: "we are all extremely excited by what the future holds and especially look forward to working together on all our stallion's future stallion prospects".
Key points of the Emirates / Aquis Farm Joint Venture:
· Emirates Park has appointed Aquis Farm to manage their property and stallions at their facility at Murrurundi, New South Wales, under a long-term management agreement. The Emirates Park name will be maintained.
· Under agreement Aquis Farm will care for Emirates Park's high quality Broodmare Band and to consign the Emirates Park sales stock for auctions throughout Australia. Emirates Park will retain ownership and strategic management of its Broodmare Band.
· On behalf of Emirates Park, Aquis Farm will manage the stallions Artie Schiller, Dream Ahead and Al Maher at Emirates Park.
· Aquis Farm and Emirates Park have agreed to work co-operatively to identify and develop stallion prospects for the Australian breeding industry.
· Aquis Farm will transfer exciting Todman Stakes winning, first-season stallion Kiss And Make Up to Emirates Park for the 2017 breeding season with his progeny to be supported by three bonus schemes.
· The Aquis Farm property at Canungra on the Gold Coast hinterland will remain unaffected and will continue to expand as it has done over the last two years.
· Aquis farm will transport and agist, free of charge, client broodmares between Emirates Park and Aquis Farm (both ways) so that clients of Aquis Farm can easily and conveniently use stallions at either farm without substantial interstate transport costs.
· Aquis Farm will employ all Emirates Park staff in their existing roles with the exception of Dr Shalabh Sahu and Bryan Carlson who will remain in new strategic and senior international and domestic roles with Emirates Park.
Following the agreement Emirates Park and Aquis Farm clients will have access to an incredible roster of high quality stallions for the 2017 season.
Emirates Park (managed by Aquis) NSW Stallions and Fees (all including GST):
Aquis Farm Queensland Stallions and Fees (all including GST):