RURAL Bank has acquired Australian agri-data and information services companies Profarmer Australia (Profarmer) and Australian Crop Forecasters (ACF) from NZX Limited.
Profarmer is a team of specialist agriculture commodity analysts, providing strategy, analysis, data and a suite of online tools. ACF is a provider of independent grain analysis.
Rural Bank CEO and managing director, Alexandra Gartmann, said the businesses were important strategic acquisitions that would build on the specialist skills, insight and capability the business already boasted.
“Profarmer and ACF are market leaders on grain markets and crop forecasting, and will complement Rural Bank’s expertise on topics such as Australian farmland values,” Ms Gartmann said.
“The acquisitions expand the Bank’s research and intelligence expertise, and further enhance its position as a knowledge leader for farming customers and Australian agribusiness.
“We will now take the time to work with Profarmer and ACF, to ensure current subscribers continue to receive the high standard of information and service they have come to expect. We will then explore further how these leading businesses can best complement Rural Bank’s overall offering to the market.”
The transaction announced today is expected to be completed by the end of August.
Rural Bank has been a wholly-owned subsidiary of Bendigo and Adelaide Bank Limited since 2010. It is the only Australian-owned and operated dedicated agribusiness bank in the country.
Ag Answers is a specialist insights division of Rural Bank. It provides research and analysis into commodities, farmland values, farm business performance and topical agricultural issues to enable farmers to make informed decisions.
Source: Rural Bank