Charles Stewart managing director Michael Stewart and Elders state general manager – Victoria-Riverina – Brendan Rinaldi, shake on the deal.

COLAC-BASED stock and station agency Charles Stewart & Co Pty Ltd has negotiated the sale of its real estate and livestock business to Elders Rural Services Australia Limited as from 1 November 2023.

A statement from CS managing director Michael Stewart and chairman Neil Stewart last week said they had retained full ownership, funding and operation of its livestock lending facility.

“This company shall trade as Stewarts Livestock Finance Pty Ltd from 1st November 2023; and continue to assist our valued clients,” they said.

Elders today announced its intention to acquire the Charles Stewart Group with a target completion date of 1 November 2023.

Charles Stewart was established in 1917 and is a fifth-generation family operation, employing over 60 people across six locations in south-west Victoria: Colac, Camperdown, Geelong, Warrnambool, Hamilton and Ballarat.

The business transacts a significant amount of rural, residential, and commercial property sales and leasing, and is a highly respected major livestock agency in the region. All management and staff will remain under the existing Charles Stewart brand to service its customer base throughout south-west Victoria.

Elders chief executive officer Mark Allison said the business has a strong history of service to the agricultural communities of south-west Victoria and will be a welcome addition to the Elders network.

“This is an exciting opportunity to strengthen Elders’ presence in Victoria with a well-respected business.

“Not only does it fill a key strategic gap for Elders in Victoria, it also allows for further growth opportunities in the future,” he said.

“Elders has built a well-respected team across Victoria, led by State General Manager Brendan Rinaldi, and I expect the addition of Charles Stewart to complement this, with the team continuing on to ensure high-quality service for clients.”

All current management and staff shall continue to provide the outstanding professional and honest service, and advice that has been synonymous with the Charles Stewart name for over 106 years, the Stewart statement said.

“The Charles Stewart & Co brand name shall remain, as will our current office locations together with contact details and team.

“We will continue to run the business as usual in our day to day operations, with the same personal service and culture that has always been provided,” they said.

“Elders, with 184 years of experience in regional and rural Australia, may provide additional livestock and real estate marketing options to complement our dynamic team.

“We would like to take this opportunity to sincerely thank you for your loyal valued business and support over the years, and look forward to a seamless transition and our continued personal relationship in the future,” they said.