Responsible for approximately 10 per cent of Australia's 1.35 million tonnes of hay exports last year, Hay Australia's operations in Victoria and Western Australia source from producers to provide a premium product range to dairy, beef and equine customers - in both domestic and international markets.
AgTrade chief executive officer, Justin Slaughter, said adding the business to the AgTrade portfolio would broaden ThriveAgri's reach across animal nutrition and present new opportunities to both producers and buyers of hay products.
"Providing a consistent and trusted supply of fodder through Hay Australia entirely supports ThriveAgri's overarching mission of helping to ensure healthy animals and productive supply chains through delivery of high-quality animal nutrition services," Slaughter said.
"With Australia's enviable reputation for producing first-class fodder and straw bedding products, we will focus on building Hay Australia's scale and capability to continue servicing existing customers, while seeking strategic opportunities in new markets."
Slaughter said Hay Australia would have opportunities to leverage AgTrade's half a century of trusted partnerships in livestock industries, while also supplying hay to its own portfolio of livestock, genetics and meat supply chains.
"AgTrade operates a diverse portfolio of global export agribusinesses, developed over the past 49 years, and is a trusted partner throughout livestock supply chains in Australia and New Zealand," he said.
Slaughter said ThriveAgri would prioritise growing Hay Australia's supplier base by engaging with both dedicated hay suppliers and primary producers seeking to expand their business or mitigate operational risks through diversification into fodder production.
As part of the acquisition, Slaughter said AgTrade was delighted to welcome more than 60 Hay Australia employees to its existing team across Australia, New Zealand and trading partner nations. Hay Australia's chair, Paul McKenzie, said he was looking forward to Hay Australia's continued growth under the ThriveAgri banner.
"Hay Australia has been the conduit between quality fodder producers and international customers for over 15 years, and these relationships will continue to flourish," McKenzie said.