Canberra, October 9, 2025 – The ACCC has decided not to oppose Elders Limited’s (ASX: ELD) proposed acquisition of Delta Agribusiness, after accepting a court-enforceable undertaking requiring Elders to divest six Delta stores in Western Australia.
Both Elders and Delta operate extensive rural merchandise networks, supplying agricultural chemicals, seed, fertiliser, animal health products, and agronomy services through retail and wholesale channels.
“Our review closely examined the competitive impact in each local area where both Elders and Delta operate, including the strength of alternative retailers and local market conditions,” said ACCC Deputy Chair Mick Keogh.
He noted that competition in rural merchandise is highly localised, influenced by regional farming conditions and local business relationships. Following a detailed assessment, the ACCC concluded that the merger would likely reduce competition in several local markets in Western Australia.
To resolve those concerns, Elders has agreed to divest six Delta stores. The ACCC has approved Independent Rural Pty Ltd as the buyer for Delta stores in Dalwallinu and Kalannie, and E. E. Muir & Sons Pty Ltd (Muirs) for stores in Albany, Hyden, Manypeaks, and Wellstead.
“The undertaking ensures a strong, independent and viable competitor to Elders in each affected area,” Keogh said.
Broader Market Review
The ACCC also examined potential competition effects in the regional, state, and national markets, as well as the wholesale supply of rural merchandise in Western Australia. After additional inquiries, the regulator concluded that the transaction is unlikely to substantially lessen competition in those wider markets.
Ultimately, the ACCC found that with the divestment undertaking in place, the acquisition would not substantially lessen competition in any relevant market.
