Brisbane Australia, Thursday, 12 October 2017
Riverina (Australia) Pty Ltd and Agrex Australia Pty Ltd announce today they are to be merged into one company. The newly merged company will operate as Riverina (Australia) Pty Ltd from its headquarters in Brisbane, Queensland. David Hunter will remain as Riverina Managing Director. Yoshihiro Enosawa (Agrex Australia CEO) will take up a position in senior management in the new company.
Agrex Australia has offices in Melbourne and Perth and also owns shares in the strategically placed Newcastle Agri Terminal (NAT). While the Melbourne office will close, the Perth office will remain operative but change to the Riverina name.
Commenting on the announcement, Riverina’s Managing Director David Hunter said, “This development is a logical step for both companies as there are many synergies between the two which by combining will help keep costs in the supply chain to a minimum”. Mr Hunter went on to say “This merger further underpins Riverina’s commitment to providing grain growers with more marketing alternatives beyond the farm gate along with our prompt, reliable execution and payment.”
Riverina (Australia) Pty Ltd has 90 years of operation in Australia beginning in Narrandera in 1927. During that time, Riverina has been an exporter of bulk grain shipments and expanded its animal Feed Division in Qld & NSW to five dry grain based feed mills and two liquid (molasses) feed mills. Now, as the two companies merge, Riverina will again participate in the bulk grain export market with the added advantage of part-ownership in an export terminal port.
“Riverina already operates a substantial domestic supply chain in Eastern Australia from farm gate to end users including five of our own feed mills, so with the addition of Agrex’s operations in bulk grain export via NAT, growers will have the ability to sell a range of grades and commodities via our Commodity Trading Team.” Mr. Hunter continued by saying, “We are pretty excited by the prospects and welcome the Agrex expertise and assets to the expanded business. It will be nice to be operating in W.A. again and with Agrex’s unique international market knowledge and customer base coming into the business it will be a fabulous complement to our existing domestic operations”.
The merger transaction is expected to go through in late October.
For further Riverina information please contact:
Riverina (Australia) Pty Ltd
+61 (07) 3007 6800