Saleyards operator Regional Livestock Exchanges has completed a deal to purchase the Victorian Livestock Exchange’s Leongatha yards in south-east Victoria.
The Leongatha yards are a privately owned, industry-leading livestock selling centre located on the South Gippsland Highway.
Since taking over the site in 2006, VLE has completely redeveloped the facility, adding roofing over the selling pens, installing soft flooring, and laying heavy-duty asphalt in the surrounding area.
The acquisition of the Leongatha site is consistent with RLX’s strategy to acquire and operate saleyards in strategic locations, with good stock numbers, transport efficiency, and long-term sustainability, the company said in a statement.
The sale, which is expected to be completed quickly, will expand RLX’s portfolio of saleyards to 11 sites across Victoria, NSW and Queensland (see list below).
For VLE, completion of the sale will mark the end of an era, having been invested in the Australian livestock industry for more than 27 years.
Since the closure of VLE’s saleyard at Pakenham in 2023, the Leongatha saleyard has experienced strong volume growth. It accounted for 273,000 head of cattle for the year ended 30 June, the highest turnover in Victoria, accounting for 23.5pc of all cattle sold via saleyards in the state, and second only to Queensland’s Roma yards in national throughput last year.
RLX said it had enormous confidence in the Australian agricultural industry and plans to continue developing and investing in regionally significant and modern livestock facilities.
“RLX continues to be open to both further acquisitions and investing in sites that it operates on behalf of other owners,” the company’s statement said.
VLE chairman Chris Sleigh said VLE played a key role in the modernisation of the livestock selling sector for many years.
“It is now time for VLE and its longstanding and loyal shareholders to move on. RLX is well funded, well managed and clearly the industry leader of saleyard operations in Australia,” he said.
“RLX is the best and natural successor to take over at Leongatha. I know RLX will continue the delivery of efficient services to all yard users.”
RLX chief executive Brett Freer said the saleyard at Leongatha was a strategically located site with good volumes and the potential for further development.
“RLX is working to close the sale quickly and ensure continuity of sales and services at Leongatha for the benefit of local producers, buyers, agents and the wider community,” he said.
About Regional Livestock Exchanges:
RLX focuses on developing regionally- significant, modern livestock facilities within strategic locations, chosen for stock numbers, transport efficiency and long-term sustainability. There are currently ten sites in the portfolio:
- Central Tablelands Livestock Exchange (CTLX) at Carcoar NSW
- Inverell Regional Livestock Exchange (IRLX) at Inverell NSW
- Hunter Regional Livestock Exchange (HRLX) at Singleton NSW
- Tamworth Regional Livestock Exchange (TRLX) at Tamworth NSW
- South-eastern Livestock Exchange (SELX) at Yass NSW
- Central Queensland Livestock Exchange (CQLX) at Gracemere QLD
- Goulburn Valley Livestock Exchange (GVLX) at Shepparton VIC
- Central Victorian Livestock Exchange (CVLX) at Ballarat VIC
- Northern Victoria Livestock Exchange (NVLX) at Barnawartha VIC
- Western Victoria Livestock Exchange (WVLX) at Mortlake VIC.
Source: RLX