Elders Limited will acquire Titan Ag and Kerr & Co Livestock, and divest the feed and processing assets from the Company’s Indonesian portfolio.
Elders’ chief executive officer and managing director, Mark Allison says Elders is focused on quality growth and development, improving the service offering for clients and delivering value to shareholders.
“We have a clear resolve to realise our objective of continuing the consistent and high quality growth which has underpinned Elders’ achievements. We now have a solid and stable platform to capitalise on the many opportunities that lie ahead for Elders and Australian agribusiness,” he said.
Elders, through its wholly owned subsidiary Elders Rural Services Australia Limited, has entered into a binding agreement to buy all the shares in Titan Ag Pty Ltd (Titan).
The agreement is subject to customary conditions precedent, including the conduct of final due diligence enquiries by Elders.
Elders expects the transaction to complete, subject to satisfaction of the conditions precedent, on 1 May 2018.
Titan is an Australian based producer and supplier of crop protection and animal health chemicals and fertiliser.
Titan formulates its products locally in Australia, via toll manufacturers, combined with sourcing from China and India.
Since commencement of its business in 2006, Titan has sold these products in Australia under the Titan brand exclusively through Elders.
Titan products have achieved good market recognition and acceptance initially in Victoria and South Australia, and in more recent years particularly in Western Australia and Northern New South Wales.
-Elders
