Login
ISCOVER
The agribusiness specialist has acquired a regional South Australian brokerage as it looks to expand its broker and financial services offering.
ASX-listed agribusiness Elders has acquired home loan and financial services business Zobel, as it looks to bolster its broking business and target growth in “strategic locations” across Australia.
To continue reading the rest of this article, please log in.
Looking for more benefits? Become a Premium Member.
Create free account to get unlimited news articles and more!
Looking for more benefits? Become a Premium Member.
Elders has been building its broking arm, Elders Home and Commercial Finance, in the past year and has now moved to acquire the South Australia-based brokerage Zobel, believed to be the largest regional loan broker operation in South Australia.
As part of the acquisition, the Zobel brand will remain in market, with the nine brokers operating under Andrew Zobel’s brand across Adelaide, Mount Gambier, Murray Bridge, Naracoorte, Whyalla, and Torquay gaining access to broader business sectors within Elders, including real estate.
According to the agribusiness specialists, the acquisition will “significantly increase [its] expertise and exposure to the home and commercial finance market”.
Nick Clark, the general manager of financial services and network improvement at Elders, said the acquisition was an “exciting opportunity to increase [Elders’] regional and metropolitan reach and drive ongoing growth of the Elders network across Australia”.
“The Zobel network is complementary to [Elders’] real estate networks in all areas where located,” he said.
“Leveraging [Elders’] strong market share of real estate to provide leads into Zobel will grow the business further in an organic approach.
“It is an exciting time to be welcoming Zobel business of the year and excellence in Finance awarded loan writers and 2021 Hall of Fame recipients.”
Broker principal Mr Zobel — who will retire from the industry later this year following the acquisition — commented that the move would help the brokerage provide a “new level of servicing going forward”.
“Since we established Zobel in 1999 we have grown the business footprint significantly, providing exceptional expert and friendly advice to clients,” Mr Zobel said.
“We are excited to embrace this opportunity to grow even further with leading real estate brand, Elders.
“Although I will be retiring from the industry, I am proud to leave Zobel an award-winning top broker firm in South Australia and in the safe hands of Elders.
“As part of the acquisition nine direct brokers who are well regarded in the industry will be onboarded, bringing significant expertise to [Elders’] existing offering and will [set up] the business for long-term growth.
“The business will be fully integrated onto [Elders’] systems, while retaining our brand and locations.”
[Related: Elders joins PCF Group]
JOIN THE DISCUSSION