ÌÇÐÄÔ­´´

On 9 October 2025, the ÌÇÐÄÔ­´´ announced that it had accepted a court-enforceable undertaking given by Elders Limited on behalf of itself and its subsidiaries (together referred to as Elders) pursuant to s87B of the Competition and Consumer Act 2010 (Cth) (the Undertaking) in connection with the proposed acquisition by Elders of 100% of the shares in Delta Agribusiness Pty Ltd (Delta) (the Proposed Acquisition).

The ÌÇÐÄÔ­´´ was concerned that, in the absence of the Undertaking, the Proposed Acquisition would have the effect, or be likely to have the effect, of substantially lessening competition in the retail supply of rural merchandise and related services in the following local areas in Western Australia:

1. Dalwallinu and the surrounding areas,
2. Hyden and the surrounding areas, and
3. Albany, Manypeaks, Wellstead and the surrounding areas (namely, the City of Albany),

(each a Local Area and together, the Local Areas).

The Undertaking requires Elders to divest the Delta agribusiness stores at Dalwallinu and Kalannie (the First Divestiture Business) and the Delta agribusiness stores at Albany, Manypeaks, Wellstead, and Hyden (the Second Divestiture Business) (together, the Divestiture Businesses).

The Undertaking identifies Independent Rural Pty Ltd as the Approved Purchaser for the First Divestiture Business and E. E. Muirs & Sons Pty Ltd (Muirs) as the Approved Purchaser for the Second Divestiture Business.

Objective of the Undertaking:

The objective of this Undertaking is to address the ÌÇÐÄÔ­´´â€™s competition concerns as set out above that would otherwise arise as a consequence of the Proposed Acquisition.

The Undertaking aims to achieve this objective by placing obligations on Elders:

1. to ensure that each Divestiture Business is sold to an Approved Purchaser that will result in the creation or strengthening of a viable, effective, stand-alone, independent and long-term competitor in each Local Area,
2. to ensure the purchaser of each Divestiture Business has all the necessary associated assets and rights to compete effectively with Elders in each Local Area,
3. to maintain the independence, economic viability, marketability, competitiveness and goodwill of the Divestiture Businesses prior to divestiture, and

to provide for the effective oversight of Elders’ compliance with this Undertaking.