Ruralco Explained

Ruralco
Former Name:Ruralco Holdings Limited
Industry:Agribusiness
Founders:-->
Key People:Richard Lee (chairman)
Hq Location Country:Sydney, NSW
Revenue:AUD$1.36 billion
Revenue Year:2014[1]
Profit:AUD$10.565 million
Profit Year:2014
Owner:Nutrien

Ruralco is a diversified agricultural company that provides real estate, insurance, auctioneer services, agricultural equipment and other services to the Australian rural community. Ruralco became a wholly owned subsidiary of Canadian company Nutrien in 2019.[2]

History

Ruralco was founded in 1970. By 2001 it had 384 rural supply stores under the brands CRT and Town & Country. In September of that year it merged with Grow Force Australia.[3]

In May 2006 it reverse merged with Australia's oldest publicly listed company, Tasmanian agricultural corporation Roberts Limited.[4]

It sold Monds and Affleck feed supplies to the Ridley Corporation in 2011.[5]

In 2008 it was described as having quietly begun to rival the 'big two' of agricultural industry in Australia, Elders Limited and Landmark.[6] By 2014 it owned 10.1% of Elders, unsuccessfully attempting to purchase the rural services section of Elders for 250 million in 2013. Following falling profits from Elders and the knockback of its purchase offer, it sold all 10.1% of the company.[7]

In February 2014 it acquired Total Eden, a water supplies company, from Anchorage Capital Partners for AUD$57.4 million.[8]

Takeover and delisting from ASX

In June 2019, Agrium Australia Pty Ltd (formerly Landmark, now a wholly owned subsidiary of Canadian company Nutrien) announced the proposed acquisition of Ruralco.[9]

Ruralco shareholders voted overwhelmingly in favour of the $469 million takeover[10] and Ruralco was delisted from the Australian Securities Exchange on 1 October 2019.

Under the new ownership, Ruralco's operations are to be rebranded Nutrien Ag Solutions.[11]

Subsidiaries

Subsidiaries of Ruralco include;

Joint ownership

Other acquisitions

Notes and References

  1. News: Ruralco doubles profit, prays for rain. 28 February 2015. The Australian. 18 November 2014.
  2. Web site: Implementation of scheme of arrangement. 30 September 2019. ASX. 4 December 2019.
  3. News: Grow Force Australia and Ruralco undertake merger. 28 February 2015. Stock Journal. 12 October 2000. dead. https://web.archive.org/web/20150304201448/http://www.stockjournal.com.au/news/agriculture/agribusiness/general-news/grow-force-australia-and-ruralco-undertake-merger/4363.aspx. 4 March 2015.
  4. News: Ruralco to take on agri-supply giants. 28 February 2015. The Age. 22 May 2006.
  5. News: Ridley to buy Ruralco feed business. 28 February 2015. Farm Online. 9 December 2011.
  6. News: Ruralco moves quietly to rival the big two. 28 February 2015. The Land Magazine. 7 November 2008. dead. https://web.archive.org/web/20150402110048/http://www.theland.com.au/news/agriculture/agribusiness/general-news/ruralco-moves-quietly-to-rival-the-big-two/1352735.aspx. 2 April 2015.
  7. News: Ruralco sells Elders stake. 28 February 2015. The Land. 22 September 2014.
  8. News: Ruralco to acquire Total Eden. 28 February 2015. Business Spectator. 13 February 2014.
  9. Web site: Ruralco scheme booklet. ASX. 4 December 2019.
  10. News: Ruralco shareholders vote for $469 (sic) Nutrien takeover. 6 September 2019. Farmonline National. 4 December 2019.
  11. News: Landmark, Ruralco brands unite to form Nutrien Ag Solutions. 12 November 2019. ABC Rural News. 4 December 2019.
  12. News: Ruralco profit increase. 28 February 2015. McPherson Media Group. 25 November 2014.
  13. News: Homann, Bolton move up ladder. 28 February 2015. Farm Online. 24 July 2008.

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