Elders tells investors the Emms Mooney business is worth millions to its bottom line

Elders yesterday announced it had bought the business, based in the NSW Central Tablelands region and is now to be known as Elders Emms Mooney.

First and foremost, it gives Elders immediate access to one of the most important agricultural regions in NSW.

While the purchase price still has not been disclosed, in a statement to the ASX, Elders managing director and chief executive officer Mark Allison outlined Elders' desire to buy the business.

"On average in the last three years, Emms Mooney transacted about 50,000 head of cattle, 190,000 sheep and over $250 million in real estate turnover," Mr Allison said.

The business is expected to add about $4.3 million in earnings before costs to Elders' bottom line each year, he said.

Mr Allison also said it was expected the business would soon pay for itself and the purchase was funded from Elders' existing debt facilities.

"With a closely aligned culture and values, all key management of Emms Mooney will continue with Elders to provide the highest level of service to their existing client base and further grow the business in the Central Tablelands."

Operating as Elders Emms Mooney, the acquisition will add an additional six locations throughout NSW's Central Tablelands - Orange, Bathurst, Oberon, Blayney, Molong and Cowra.

Emms Mooney have been market leaders in the Central Tablelands with a combined experience of more the 60 years in real estate and livestock sales.

Coming off the back of a strong profit result, Elders is fast expanding into New Zealand with a share of that country's farm services group PGG Wrightson.

Emms Mooney director Pat Bird said the company was "very excited" to be partnering with Elders.

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Emms Mooney's directors will continue with the new business, and its team will remain unchanged.

"For our clients it will be business as usual, with the added benefit of being backed by a brand like Elders," Mr Bird said.

Meanwhile in other agency news, AWN has bought Wagga Wagga-based agency Wilks & McKean Livestock & Property.

The business, which will be known as AWN Wilks McKean, was founded in 2017 by local livestock and property agents Joe Wilks and Tim McKean.

AWN general manager of livestock and property, Peter Weaver, said the acquisition allows the Wagga-based business to continue to grow by providing staff and clients with access to a national network of agents.

Wilks and McKean is AWN's seventh agency buy in the past two years.

AWN, formerly Australian Wool Network, is a privately-owned Australian business, founded in 1999 and says it is now the third largest wool, livestock, and property agency business in Australia.

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