Stockfeed maker, Ridley Corporation is to buy the Tasmanian stockfeed business Monds and Affleck from its parent group Ruralco Holdings.
Monds processes and distributes stockfeed products in Tasmania under the name Monds and Affleck brand and and associated names.
Ridley will start manufacturing the Monds range at its mills sites throughout Australia and will distribute the products through Ruralco's farm supply outlets which include CRT and Town and Country stores owned by CRT members, and wholly-owned subsidiaries such as Roberts Limited and Rodwells and Company.
Ruralco managing director, John Maher, said the Monds sale was part of the company's strategic approach to concentrate on its core activities of "servicing primary producers through a high quality, customer focused distribution channel".
"We see this sale and ongoing agreement with Ridley to be in the best interest of both parties," he said.
"The decision to divest any business from within the Ruralco portfolio is one we take seriously and thoroughly review and this arrangement with Ridley will ensure a seamless transition and guarantee ongoing supply to our clients.
Ridley's managing director, John Murray said the Monds and Affleck name was synonymous with a broad range of innovative, high quality stock feed products, and his company was proud to be entrusted with the responsibility to continue a tradition started in Tasmania in the 1860s.
"Ridley and Monds share the same passion for delivery of stock feed products for livestock that maximise feed conversion efficiency and animal health, and we are delighted to extend our existing relationship with them into an effective long term arrangement."
