ACCC Approves Elders–Delta Agribusiness Merger After Competition Concerns Addressed
- Barry Money
- 2 days ago
- 3 min read
Published: October 2025
Based on an ACCC media release dated 9 October 2025.
Australia’s agribusiness landscape is set for a major shift, with the Australian Competition and Consumer Commission (ACCC) confirming it will not oppose Elders Limited’s (ASX: ELD) acquisition of Delta Agribusiness, subject to strict divestment conditions.
This decision follows an extensive ACCC review that examined potential competition impacts across regional and rural areas — particularly where Elders and Delta both operate retail stores.
Why the ACCC Got Involved
Both Elders and Delta Agribusiness supply a wide range of rural merchandise — including agricultural chemicals, seed, fertiliser, and animal health products — as well as agronomy services to farmers. They also supply these products at the wholesale level, making their merger significant for both local and national markets.
According to ACCC Deputy Chair Mick Keogh, the regulator carefully assessed how the deal would affect competition in each area where the two companies overlap.
“The nature of competition in the retail supply of rural merchandise is more localised than is the case in other retail sectors… partly due to the differences in farming in different local areas, and the importance of local relationships,” Mr. Keogh explained.
The ACCC found that the proposed acquisition could substantially lessen competition in several Western Australian regions, potentially limiting choice for local farmers.
The Required Divestments
To address these concerns, Elders has agreed to divest six Delta Agribusiness stores in Western Australia.
The ACCC has accepted a court-enforceable undertaking to this effect.
The six stores — located in Dalwallinu, Kalannie, Albany, Hyden, Manypeaks, and Wellstead — will be sold to two independent agribusinesses:
Independent Rural Pty. Ltd. will acquire the Dalwallinu and Kalannie stores.
E.E. Muir & Sons Pty. Limited (Muirs) will acquire the remaining four stores.
Mr. Keogh said the undertaking “creates strong, independent and viable long-term competitors to Elders in those six areas,” effectively preserving competition in regional markets.
No Broader Competition Concerns
Beyond Western Australia, the ACCC concluded that Elders’ acquisition of Delta is unlikely to substantially lessen competition in other local, regional, state, or national markets.
After further inquiries and information gathering, the ACCC found no significant risks at the wholesale level either.
In its final statement, the ACCC confirmed that the acquisition can proceed with the agreed divestments in place.
Full details of the undertaking and ACCC findings are available on the ACCC’s public register.
What This Means for Agribusiness and M&A Activity
This case highlights how competition law and merger control can directly shape business growth in Australia’s rural and regional sectors.
Even when acquisitions appear commercially logical, they must satisfy the Competition and Consumer Act 2010 (Cth) — ensuring markets remain fair, competitive, and accessible.
For companies planning mergers, acquisitions, or restructures, this case is a timely reminder: ACCC scrutiny is rigorous, and early legal guidance is essential to avoid delays or divestment requirements.
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Source: Australian Competition and Consumer Commission (ACCC), “Elders’ acquisition of Delta Agribusiness not opposed, subject to divestments”, 9 October 2025.
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