Acquirer(s)
- Elders Limited
Target(s)
- Delta Agribusiness
Summary
Elders Limited (Elders) proposes to acquire 100% of the shares in Delta Agribusiness (Delta) (the Proposed Acquisition).
Elders is an ASX-listed agribusiness supplying rural merchandise as well as a range of livestock and wool agency, real estate, finance, and feed and processing services across Australia. Elders operates 246 retail stores, as well as a buying and marketing group called Australian Independent Rural Retailers (AIRR) which distributes rural merchandise on a wholesale basis.
Delta is an Australian agribusiness supplying rural merchandise as well as a range of farm consultancy and production agronomy services, grain marketing services and livestock agency services. Delta operates 64 retail stores in New South Wales, Victoria, South Australia and Western Australia, and also operates a wholesale business (Delta WA) in Western Australia. Delta also provides access to real estate and finance services through referral agreements with a real estate agent and a bank.
On 9 October 2025, the ACCC decided to not oppose the proposed acquisition, subject to the ACCC accepting a court-enforceable undertaking from Elders to divest six Delta stores in Western Australia. Elders has undertaken to divest two stores to Independent Rural Pty Ltd (Dalwallinu and Kalannie) and four to E. E. Muir & Sons Pty Limited (Albany, Hyden, Manypeaks and Wellstead).
The ACCC will release a Public Competition Assessment in due course.
Market inquiries
| Document title | Date | |
|---|---|---|
| Elders Delta - Market inquiries letter |
Statement of issues
| Document title | Date | |
|---|---|---|
| Elders Delta - Statement of Issues - 29 May 2025 |
Undertakings
| Document title | Date | |
|---|---|---|
| Elders Limited - s87B Undertaking - public version |
Timeline
| Date | Event |
|---|---|
ACCC commenced informal review under the Informal Merger Review Process Guidelines. |
|
Closing date for submissions. |
|
Timeline suspended pending receipt of information from the parties. Former provisional date for announcement of ACCC's findings (13 March 2025) was delayed. |
|
ACCC received further information from the parties. ACCC amended provisional date for announcement of findings to 29 May 2025. |
|
Proposed date for announcement of ACCC’s findings (as outlined in the Informal Merger Review Process Guidelines, this may be a final decision or release of a Statement of Issues). |
|
ACCC published a Statement of Issues outlining preliminary competition concerns. |
|
Closing date for submissions relating to Statement of Issues. |
|
ACCC suspended the timeline to allow time to consider information provided by the parties. Former proposed date for announcement of ACCC's findings (21 August 2025) delayed. |
|
ACCC recommenced timeline. |
|
ACCC announced it would not oppose the proposed acquisition, subject to a section 87B undertaking accepted by the ACCC. |