The Toowoomba-founded feedlot operation Mort & Co is set to be sold.
The company’s board of directors have chosen to sell the company after the sale of two of the company’s feedlots; Pinegrove Feedlot near Millmerran and Yarranbrook Feedlot at Inglewood.
Founded in Toowoomba in 1997 by Charlie Mort, the company quickly grew to have seven different businesses in seven locations, 300 staff and an annual revenue of more than $400 million.
“The Board has decided that the company, at its most successful and highest point, will be best taken to the next level under new ownership – a decision which clearly has not been made lightly,” CEO Stephen O’Brien said.
“It’s almost 30 years since Charlie decided to open his own business and custom feed for graziers – it’s incredible to stand back and look at what has been established in that time.”
Mort & Co is a vertically integrated business servicing Australia’s largest feedlot industry.
That includes a fleet of 45 prime movers, a cottonseed dehulling and de-oiling plant and five award-winning Angus and Wagyu beef brands which are exported across the globe.
The company also has partnerships with more than 2000 vendors supplying cattle directly to Mort & Co.
“We go to market today as a highly respected Agricultural business – one of the best in Australia, with a reputation for quality and trusted values,’’ Mr O’Brien said.
“Mort & Co is known as a leader in the industry – built through innovation, courage and resilience – but most importantly through the commitment from our people and our partners.
“As we move through this transition, our priority is to maintain the strong and consistent operations Mort & Co is so well known for, while supporting our loyal and skilled team.”