Corporate interest returning to the agricultural sector due to the success of Select Harvests Managing director Paul Thompson at the company's Thomastown plant with almonds. Pictures:Angie Basdekis. ALMOND grower and processor Select Harvests has become one of the hottest companies on the Australian Securities Exchange, attracting corporate interest in the previously beaten down agricultural sector. The company's share price has risen from $1.30 a share in 2012 to $6.73, highlighting its rapidly improving fortunes. Select Harvests" latest move involved the $68 million purchase of two Riverland almond farms at Paringa and Loxton. Managing director Paul Thompson said they include 1000ha of mature almond trees, while it is planning to plant another 1000ha in the next three years at a cost of a further $60 million. Select Harvests is also spending $2 million to build a new pipeline from the River Murray to a large dam on its property by Christmas. "Most of our development focus will be in South Australia where we expect to add about 30 direct jobs and many more indirect jobs," Mr Thompson said. We'd like to buy more mature orchards if we can get them, but as a corporate farmer they need to be substantial to make our model work. Mr Thompson predicts its growth in the next three years will help Select Harvests become an even more significant player in the 28,000ha national industry as the sector continues to grow. Select Harvests holds a significant share of the national almond industry, owning 5389ha of trees in the Riverland, Mildura and Griffith regions and plans to expand to 7602ha in the next three years. Institutional investors have been happy to invest in the company with its share register changing from 70 per cent private individuals to 50 per cent corporate investors in the past few years. High world demand for almonds, their health food status, near record prices, a new board and substantial management changes have all contributed to the success of Select Harvests Its rising fortunes followed a major restructure of its board and management three years ago when experienced Adelaide agribusiness professional Michael Iwaniw was installed as chairman and he recruited Mr Thompson as managing director six months later. The company's position is a big change from five years ago when it managed 12,000ha of almond groves for then managed investment scheme giant Timbercorp. It employs more than 300 people, rising to 500-plus at harvest, and had a turnover of nearly $250 million in 2013-14. Mr Thompson said Select Harvests had become the nation's leading manufacturer, processor and marketer of nut products, health snacks and muesli in Australia and a major exporter with about 80pc of its production exported to India, followed by the Middle East and Europe. "The demand for almonds is very good because they have the right types of fats and they are good for the heart and very healthy," he said. Mr Thompson said the almond industry has been helped by a 30 per cent price rise, up from $6.50kg two years ago to $8.50kg in 2013-14 and the price is 10 per cent higher this year. Select Harvest processes its almonds at Robinvale in Victoria, while they are further processed at Thomastown, a northern suburb of Melbourne. Apart from its almond groves and almond processing, which represents 90 per cent of the business, it includes a packaged food division including the Lucky Brand, the number one cooking nut in Australia and Sun Sol Muesli, the number 4 muesli brand.