The Company was established by Act of United Kingdom Parliament and Royal Charter in 1824 to raise fine wool sheep in New South Wales on a million acre land grant. In 1831 the company took over coal mining operations in Newcastle, New South Wales and in 1854 sold its Peel Estate (Tamworth, New South Wales) to the newly formed Peel River Land & Mineral Company, continuing its pastoral operations at Port Stephens and Warrah, and coal mining at Newcastle (to 1916) and Hebburn. From 1932 the Australian operations of the company and the Peel River Land and Mineral Company were jointly managed, and two subsidiary companies were formed: AA&P Joint Holdings and Union Pastoral Investments. In 1959 the company finally acquired the whole share capital in Peel River Land and Mineral Company, and the subsidiary companies were wound up. In 1965 the Company transferred it tax domicile from the UK to Australia, and the head office from London to Tamworth NSW. In 1985, with its cattle operations mainly in Queensland and the Northern Territory transferred its registered to office to Brisbane. In 1994 the company was acquired by Elders Futuris Ltd.