Toowoomba company Mort and Co to acquire New South Wales stockfeeds business Guyra Milling
After recently proposing a $20 million facility in the Western Downs, a Toowoomba based business is set to acquire a New South Wales stockfeeds company.
Business
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Australia’s largest privately owned lot feeder which has proposed plans to expand into the Dalby region is set to acquire an interstate stockfeeds business.
Mort & Co will take over the site of New South Wales based Guyra Milling, following a comprehensive due diligence process.
Announced on June 15, the acquisition follows the recent launch of their new division Mort & Co Stockfeeds, which is set to invest $20 million into a state of the art stockfeeds facility at their Grassdale Feedlot near Dalby.
Guyra Milling was established in 2007 by the Vivers family and is in the heart of one of the largest sheep and cattle producing areas in the New England Tablelands.
The mill has a maximum capacity of 20,000 tonnes per annum, and currently supplies pellets in bulk, bulka, and 20kg bags.
Guyra Milling Operations manager David McCathie said the acquisition was a positive outcome for everyone.
“It’s fantastic news for our team and our customers that the mill remains operational,” Mr McCathie said.
“It’s also massive for the local area, there is only an upside from this agreement for all parties involved.”
The agreement will allow Mort & Co to purchase the site and its physical assets, including the mill, three delivery trucks and some additional equipment.
The core Guyra Milling team members will continue with Mort & Co, to ensure the mill can remain open for business and provide a smooth transition for customers.
Owner Belinda Vivers also touched on her interactions with the Toowoomba based feedlotter.
“To be involved in negotiations with a business such as Mort & Co, gives you confidence,” Mrs Vivers said.
“They are a strong company who are growing, but more importantly, they have great values, which has been evident in all our dealings with them.”
When discussing the acquisition, Mort & Co CEO Stephen O’Brien said he was excited about the company’s future.
“It’s an exciting time ahead for Mort & Co Stockfeeds and we look forward to welcoming David and the Guyra Milling team into the business on July 1,” Mr O’Brien said.
“We’d like to thank the Vivers family for working proactively with us throughout this transaction and are grateful to them for entrusting the future of the business that herself and Jack built over 14 years to Mort & Co.”
The acquisition is due to be finalised on July 1, 2021.
Originally published as Toowoomba company Mort and Co to acquire New South Wales stockfeeds business Guyra Milling
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