SELECT Harvests has bought 340ha of almond orchards at Wemen in northwest Victoria.
One parcel of land, 241ha, was bought by the company for $2.7 million while a partner bought the remaining 99ha, bringing the companies total orchards acreage to 5656ha.
Select Harvests acquired the rights to the 2013 crop for $0.41 million.
In an announcement to the stock exchange Select Harvests said the orchards were at their peak and were adjacent to the company's almond processing facility.
"Growing conditions and the market outlook remain positive.
"We have forward sold part of the crop to the Indian inshell market at a price in line with the increase in global pricing."
Select Harvests will announced its half year results on February 21.