Regional Livestock Exchanges’ management and other services to be brought in-house
Regional Livestock Exchanges (RLX) and Palisade Investment Partners (Palisade) today announced that the management and other services for RLX will be brought in-house, signalling the next stage in RLX’s maturity and growth prospects. Activities at all RLX sites will continue uninterrupted and agents, service providers, buyers and vendors should expect business-as-usual.
Regional Livestock Exchanges develop and operate a network of eight sheep and cattle saleyards across Victoria, New South Wales and Queensland, which are an essential component of the livestock supply chain and have an important place in regional communities.
As an independent specialist infrastructure manager, Palisade remains the long-term owner of RLX since the business’s inception. Palisade has contracted AAM Investment Group Pty Ltd (AAM) since 2007 to act as operator and asset manager for its RLX business. During this time the two organisations have worked collaboratively to grow RLX and to modernise and enhance facilities and management practices within the agricultural infrastructure sector. The investments made in technology, site infrastructure and new saleyard facilities have resulted in improved animal welfare, more efficient operations, and a better experience for all RLX’s stakeholders.
With RLX now a market-leading provider of saleyard services across the Australian east coast, discussions between Palisade and AAM led both organisations to conclude that now is the right time to bring management services for the RLX business in-house. Importantly, RLX will continue, along with all current staff involved in the business, to provide existing services uninterrupted.
Palisade wishes to thank AAM for its contribution to growing and modernising RLX over the past 15 years. Palisade is committed to completing all existing projects and identifying others that will improve existing sites. RLX is well placed to take advantage of a growing regional economy with favourable market conditions and will continue to invest to improve facilities and services and expand the business further as its investor base continues to look for further investments for their growing capital.
The new arrangements will be in place from 30 September 2022.
Quotes attributable to Roger Lloyd, Managing Director of Palisade Investment Partners and Chairman of RLX:
“Since establishing Regional Livestock Exchanges, Palisade has been pleased with the growth of the business and bringing management services in-house signals the maturity of the RLX business and Palisade’s confidence in the existing staff managing each facility and in the prospects for further growth.”
“Having helped establish RLX from the very beginning, I am personally committed to its continued success and growth for the benefit of regional communities, our employees and investors.”
“Palisade thank AAM Investment Group for its contribution to help grow the RLX business and make it the industry-leading operation that it is today and offers its best wishes for future endeavours in the Australian agriculture industry.”