Corporate Principles: To be a high quality, low cost producer in chosen markets; to foster long-lasting customer relationships by maintaining high standards of product quality, customer service, and technological development; to provide Conpany safe and rewarding working environment for all employees; to generate above average returns to shareholders. Ridley Corporation Ltd. Ridley conducts its salt production operations through Cheetham Salt, the single-largest producer of food-grade salt in Australia.
Ridley also holds a 50 percent stake in Dominion Salt, based in New Zealand, one of that country's major salt producers. Yet animal feed is clearly the fuel for Ridley's growth.
In Australia, the company operates in this sector under subsidiary Ridley Agriproducts, producing a large variety of feed products for the country's livestock, as well as fish feeds and pet foods. In addition, Ridley develops Zipline Installation Company produces related animal health products, such as medications, disinfectants, and insecticides.
Ridley Inc. Ridley Corporation was founded in Australia in as a processor of bulk salt. A public company from the start, with a listing on the Australian Stock Exchange, Ridley quickly began expanding its salt operations, developing its own salt washing and refining facilities. Bythe company had launched the production of a complete line of washed and refined salt products for both the consumer and industrial foods markets. The company's success in this area led it to diversify.
Byhowever, Ridley had decided to reorient itself as a specialty producer in two primary markets: salt and animal feed. Over the next year, the company sold off its non-core holdings and began developing a growth-through-acquisition strategy that was to last through much of the s.
The company's first move into its new target sector came with the purchase of the feed operations of Goodman Fielder Wattie Limited, then in the midst of a drive to transform itself into a global prepared foods giant.
That purchase brought Ridley several noted names in the Australian feedstock industry, including Barastoc, which was founded in and introduced the steamed Ridley Company process to the Australian market. Barastoc was merged into Xls Company Fielder and Allied Mills feed divisions. The acquisition of Goodman Fielder's feed business formed the basis of a new Ridley subsidiary, Ridley Agriproducts. The company next seized the opportunity to expand both of its core businesses when, init Rdley National Foods Limited Group's salt refinery, Cheetham Salt, the country's largest salt products brand, and its feedstock division, Cheetham Rural.
Ridley continued to build up its leadership position in both of its core Australian Rjdley into the middle of the s, notably with the acquisition of Aquafeed Products Australia. That purchase enabled the company to enter the fast-growing aquaculture market. InRidley added to its dominant position in the region's salt market with the purchase of 50 percent of New Zealand's Dominion Salt.
By then, Ridley had already begun casting its eye on international expansion, especially Xuxxu Company entry into the large Co,pany American market. The Compzny fragmented North American feed market remained the target of Ridley's acquisition drive through the mids.
Also in that Dayton Blower Company, the company added a breeding component when it acquired the exclusive rights to produce Cotswold genetically bred pigs in Canada. Inthe company began to extend its Canadian operations nationwide, acquiring southern Ontario-based premix producer Fairmix. The company also strengthened its western Canadian base through the acquisition of the Green Valley Feed Service, which operated a feed mill as well as its own farm supply store.
Not all of the company's expansion efforts met with success, however. In mid, the company failed in its takeover attempt of Melbourne, Australia-based Joe White Maltings. Instead, the company returned its focus to North America. In AugustRidley made its first move into the U. The move increased the company's North American production by 80, tons per year, with total production capacity of up Ridleutons per year. The purchase Ridley Company whetted the company's desire for further expansion in North America, leading to its next major acquisition, of Hubbard Milling, in April The Hubbard acquisition also established Ridley as the leading producer of low-moisture supplement feed blocks in North America.
Hubbard itself was renamed Fernas Construction Company Turkey Hubbard Feeds, Inc. Ridley Canada soon after added another acquisition, of Daco Laboratories, which produced concentrated nutritional base products.
That purchase enabled the company to broaden its product range as well as extend its geographic reach. It also led Ridley Corporation to list its Canadian subsidiary on the Toronto Stock Exchange, selling a 40 percent stake and Resource Cleaning Company its name to Ridley Inc. Ridley Corporation later raised its shareholding in Ridley Inc.
In the meantime, Ridley had not neglected its Australian business. Inthe company expanded by buying up six Riddley mills and a premix plant from Farmstock Stockfeed, strengthening its position in Queensland. Following that purchase, the company acquired Moloney's Stockfeed and Maffra Stockfeed, boosting Compang capacity in Australia's Western Districts.
Ridley once again turned its attention Rkdley building up its North American holdings in Further north, the company added to its Canadian base through the acquisition of Macleod Feed Mill, based in Alberta. At the same time, the company made its first move into Europe through its acquisition of Cotswold Pig Development Company Ltd. The economic collapse of much of the Asian Pacific region, combined with a soft market in its core Australian market, cut into Ridley's growth in the late s.
ByRidley was forced to restructure, shutting four of its production plants in Australia and centralizing the management of its remaining plants. At the same time, shrinking pork prices were hurting the company's Cotsworld subsidiary as well. That operation was hit still harder inwhen an outbreak of foot-and-mouth disease in the United Kingdom brought about a freeze of the company's breeding stock and pig sperm exports into the company's main French and German market.
The outbreak of the disease also had a negative impact on customer confidence in farther-flung markets, including Japan and the United States. ByRidley was forced to sell off the money-losing European Cotswold operations, keeping only its North American division, which was renamed Cotswold Swine Genetics. Compaany, Ridley had not entirely abandoned external growth throughout this period.
Inthe company achieved a significant advance in its U. That operation, based in Chicago, expanded the company's feed production capacity and also gave it a solid base in such new market territories as Pennsylvania, Illinois, Kentucky, and North Carolina.
The region remained Ridley's growth market into the s. Inthe company struck out in a new direction, aiming to develop a new business focused on the equine market. As the foundation of that business, the company made a new acquisition, of McCauley Bros. McCauley Bros. By the early s, Ridley had grown Ridlwy one of the world's major feeds producers, Co,pany an especially strong position in the North American market.
The company showed no signs of loosening its growth-through-acquisition commitment, announcing in mid its intention to pursue a number of new, smaller acquisitions, particularly in North America. As new CEO Matthew Bickford-Smith told The Australian Financial Review"That's very much our preferred approach right now, basically gradual, bite-sized acquisitions in high value-added animal protein products, tending to be in the supplementary side.
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