MID North Merino breeders George and Sophie Millington have expanded their operations buying historic Clare Valley gem Kadlunga.
A purchase price for the 3923 hectares at Mintaro has not been disclosed, but it is believed to be one of the state's largest ever off-market transactions.
Prominent NT pastoralist Tim Edmunds and his family bought Kadlunga for about $20 million just two years ago but at the time it was about two thirds smaller.
"Kadlunga is a very special place and we are very proud of the contribution we have made to improving it," Mr Edmunds said.
"We had not intended to realise our investment this early, however we have decided to exit on the basis that the terms negotiated with Mr Millington are very fair and this sale will ensure that this truly iconic asset will be placed into the hands of a terrific South Australian farming family."
The Millingtons, who bought the iconic Collinsville stud in 2014, said the purchase would enhance their production diversity and enable them to produce grain and fodder in some of SA's most reliable country.
"The acquisition will therefore allow us to expand our operations and support our strategic objective of consistently breeding the highest quality Australian Merino sheep for our customers nationwide year-in year-out," Mr Millington said. "Kadlunga will be a wonderful asset for our family for generations to come."
Elders general manager real estate Tom Russo along with Elders state rural real estate manager Phil Keen negotiated the transaction.
"It is always fantastic to help our clients achieve their visions particularly to see SA farming families growing their businesses," he said.
"It's exciting to see such a strong level of confidence and willingness to invest in the future of Merino breeding from one of our state's most passionate and progressive producers,"
Mr Russo said nearly 1000ha of cropping land which was not of "strategic importance" to the Millingtons would be onsold.
Sunhill and Drumcalpin has just hit the market for sale by expression of interest.
Mr Russo expects very strong buying interest with demand far outstripping supply of quality farmland, especially in the tightly held Clare Valley. Expressions of interest close on July 24.