Ridley Corporation

What Ridley Corporation does

Ridley Corporation Limited (ASX: RIC) is an Australian integrated agriproducts and animal nutrition company operating the country's largest animal feed production network, comprising 13 feed mills, two ingredient recovery plants, an extrusion plant, and a supplements plant across South Australia, Victoria, New South Wales and Queensland. Following the September 2025 AUD 433.7 million acquisition of Incitec Pivot Fertilisers, the company extended its platform upstream into crop fertilisers and now describes itself as Australia's largest provider of fertiliser and feed solutions spanning 'soil to livestock'. Its technology base rests on Near Infrared Spectroscopy laboratory analysis, species-specific nutrition formulation expertise across more than 20 species, ingredient recovery processing, and a patent-protected microbial biofloc aquaculture ingredient (NovaqPro) licensed from CSIRO and manufactured at a dedicated facility in Thailand.

The business makes money through multiple revenue streams: bulk ruminant and monogastric stockfeeds sold via direct field sales and mill-direct delivery to commercial livestock producers; packaged retail products (Barastoc, Cobber, Rumevite, Food for Dogs) distributed through retail store networks; animal protein meals and oils (CSF Proteins) serving feed and biofuel markets; fertilisers and agronomy services through Incitec Pivot Fertilisers; commodity trading in grains, pulses and oilseeds; and global licensing/distribution of NovaqPro. Pricing is quote-based for bulk and commercial accounts with 28-day payment terms, while retail pricing varies by retailer. Branded packaged products are sold under Barastoc (horse, poultry, dairy, pig, hobby farm), Cobber (dog food), Rumevite (supplements), and Primo (aquaculture specialty distribution), with the Incitec Pivot Fertilisers fertiliser brand now also part of the portfolio.

Ridley's customer base spans commercial poultry, pig, dairy, beef and sheep producers, retail and hobby farmers, aquaculture operators globally, Australian crop growers via the Incitec Pivot network, and buyers of animal protein meals and oils for petfood, aquafeed, and biofuel sectors including sustainable aviation fuel. Go-to-market combines enterprise field sales with dedicated account managers, retail distribution, and direct trading desks. The company employs 501–1,000 people, is headquartered in Melbourne, and is led by Managing Director & CEO Quinton Hildebrand with Chair Mick McMahon.

Name

Ridley Corporation

Legal name

Ridley Corporation Limited

Website

https://ridley.com.au

Company type

Public

Founded year

1950

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Ridley Corporation is an Australian ASX-listed agriproducts company that manufactures and distributes bulk and packaged animal feeds, animal protein meals and oils, fertilisers, and aquaculture ingredients across Australia, New Zealand and global shrimp markets. It operates the country's largest animal feed production network under brands including Barastoc, Cobber, Rumevite, NovaqPro, CSF Proteins and Incitec Pivot Fertilisers.

Ownership category

akta.pro rank

Product category

Animal Feed and Nutrition Manufacturing

NAICS

Animal Food Manufacturing (31111), Aquaculture (11251), Animal Food Manufacturing (3111)

SIC

Agricultural Prod-Livestock & Animal Specialties (200), Food And Kindred Products (2000)

akta.pro primary industry

Shrimp & Prawn Feed (AFADADAB)

akta.pro secondary industries

Specialty Performance Feed (Pigmentation, Flesh Quality, FCR Optimization) (AFADADAJ), Functional & Health Aquaculture Feed (Immunity, Disease Mitigation) (AFADADAI), Aquaculture Feed & Nutrition (HLAMAHAF)

Keywords

• Animal nutrition manufacturing
• Livestock feed production
• Aquaculture feed ingredients
• Fertiliser distribution
• Commodity grain trading

Headquarters

HQ city

Melbourne

HQ country

Australia

HQ region

Oceania

Offices18 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Bulk & Commercial Stockfeeds: Sale of bulk ruminant (dairy, beef, sheep) and monogastric (poultry, pig) stockfeeds to commercial livestock producers through direct field sales and mill-direct distribution across 13 feed mills. Includes the Bulk Stockfeeds segment which delivered 25% EBITDA growth in H1 FY26.
2. Packaged & Retail Animal Feed Products: Sale of packaged animal feed products under brands including Barastoc (Horse, Poultry, Dairy, Pig, Farm Feeds), Cobber (dog food), Rumevite, and Primo (aquaculture). Distributed through retail store networks across Australia.
3. Animal Proteins & Oils (CSF Proteins): Production and sale of animal protein meals (poultry, fish, bovine, ovine, feather) and tallows/oils from ingredient recovery plants. Products serve animal feed and biofuel sectors. The Packaged and Ingredients segment (including this stream) reported AUD 25.6 million EBITDA in H1 FY26.
4. Fertilisers (Incitec Pivot Fertilisers): Following the $433.7 million acquisition of Incitec Pivot Fertilisers completed September 30, 2025, Ridley now owns a major fertiliser distribution and manufacturing business. Contributed AUD 10.3 million EBITDA in its first three months under new ownership, with full-year seasonal peak demand expected in H2 FY26.
5. NovaqPro Specialty Ingredient: Licensed aquafeed ingredient NovaqPro is sold as a specialty input for shrimp producers globally, with a dedicated production facility in Thailand. Represents a higher-value, technology-differentiated revenue stream.
6. Commodity Trading: Ridley operates as a major buyer and seller of cereal grains, pulses, oilseeds, and other feed ingredients. Leverages geographic diversity and scale for procurement advantages, sourcing raw materials for own use and on behalf of clients.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels6 records

Core offering

Ridley Corporation manufactures and sells animal nutrition products including bulk ruminant and monogastric stockfeeds, packaged retail animal feeds under the Barastoc, Cobber, and Rumevite brands, animal protein meals and oils (CSF Proteins), and the proprietary NovaqPro microbial biofloc ingredient for shrimp aquaculture. Following its September 2025 acquisition of Incitec Pivot Fertilisers, Ridley also manufactures and distributes crop fertilisers across Australia. The company operates 13 feed mills, 2 ingredient recovery plants, and an extrusion plant, supported by direct field sales and distribution networks spanning Australia, New Zealand, and select global aquaculture markets.

Product overview

Ridley Corporation is Australia's leading provider of premium quality, high-performance nutrition solutions spanning fertiliser and animal feed. The company operates an integrated platform combining fertiliser products (via Incitec Pivot Fertilisers acquisition), bulk and packaged animal feeds across multiple species, ingredient recovery (animal proteins & oils through CSF Proteins), specialty aquaculture ingredients (NovaqPro), and commodity trading. The portfolio includes 13 feed manufacturing sites, 2 ingredient recovery plants, extrusion and supplement facilities across Australia. Branded packaged products are sold under Barastoc (horse, poultry, dairy, pig, farm feeds), Cobber (dog food), and Rumevite (supplements) sub-brands. Bulk commercial feeds cover ruminants (dairy, beef, sheep) and monogastrics (poultry, pigs, ducks). The recently acquired Incitec Pivot Fertilisers provides fertilizer expertise, Nutrient Advantage Laboratory services, and the NovaqPro technology licensed from CSIRO for aquaculture applications.

Differentiator

Problem solved

Functional benefit

Brands

• Barastoc: Range of animal feeds including horse, poultry, dairy, pig, and hobby farm feeds
• Cobber
• Food for Dogs
• Rumevite
• NovaqPro
• Primo
• CSF Proteins
• Incitec Pivot Fertilisers

Products and services

• Bulk Ruminant Stockfeeds High-quality bulk feed products for ruminant animals including dairy cattle, beef cattle, sheep, and other ruminants. Includes complete feeds, concentrates, supplements, PMR and TMR Smart Blends, and loose mixes supplied to commercial livestock producers.
• Bulk Monogastric Stockfeeds Bulk stockfeed for monogastric animals including layers, broilers, pigs, and ducks. Includes commercial poultry feeds, commercial pig feeds, and backyard poultry feeds.
• Animal Proteins and Oils (CSF Proteins) Animal protein meals and oils produced from co-products including poultry meal, fish meal, meat and bone meal, ovine meal, bovine meal, feather meal, blood meal, tallows, and poultry oils. Serves the animal feed sector as well as the biofuel sector (sustainable aviation fuel and biodiesel) with animal fats as feedstock.
• NovaqPro Patent-protected microbial biofloc ingredient for shrimp aquaculture. Discovered by CSIRO and commercialised by Ridley. Fish-free and free of land animal material; proven to significantly improve feed intake, growth, and disease resistance in shrimp through over 100 commercial trials.
• Incitec Pivot Fertilisers Science-backed crop nutrition products and services including urea fertiliser, Nutrient Advantage Laboratory soil testing, and agronomy services across Australia. Provides fertiliser expertise, production, sourcing, and distribution to Australian agricultural growers.
• Commodities Trading Sourcing and trading of raw ingredients including cereal grains (wheat, barley, sorghum, oats), oilseeds (canola seed), pulses (faba beans, peas, lentils, lupins), protein meals, premixes, and macro/micro minerals. Buy and sell direct services to commercial clients, leveraging geographic diversity and scale.
• Primo Specialty Aquaculture Products Specialty aquaculture feed and related products distributed across Australia and New Zealand through the Primo distribution network.
• Barastoc Horse Premium horse feed products including Calm Performer and other specialised equine nutrition formulas for horse owners.
• Barastoc Poultry Poultry feed products including GoldenYolk Pellets and formulations for layers, broilers, and backyard chooks.
• Barastoc Dairy Dairy cattle feed products including heifer developer pellets, transition feeds, and milk replacers.
• Barastoc Pig Pig feed products formulated for different life stages of pigs.
• Barastoc Farm and Small Animal Feeds Hobby farm feeds for small animals, mixed farms, and hobby farmers.
• Cobber Dog Food Premium dog food products including working dog formulas.
• Rumevite Supplements Livestock supplement and lick products for ruminants under the Rumevite brand.
• Specialty Product Distribution Network Distribution of specialty products to a network of customers across Australia and New Zealand, including aquaculture products through Primo and various specialty ingredients.

Quantifiable outcome

• NovaqPro improves shrimp growth by 39.3% in monodon and 51.6% in P. vannamei under controlled conditions (meta-analysis, World Aquaculture Society Conference, Darwin 2023)
• +3 more outcomes

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered core and supporting.

• CSIROcoreStrategic or Co-development PartnerCSIRO discovered NovaqPro technology, which Ridley perfected and commercialised. NovaqPro patents are owned by CSIRO and licensed to Ridley Agriproducts Pty Ltd. This is a core technology licensing and co-development relationship central to Ridley's aquaculture growth strategy.
• Andaman Aquatic Research Centre (AARC)supportingStrategic or Co-development PartnerResearch partner for NovaqPro trials and product development for shrimp aquaculture nutrition. Collaborates with Ridley on tank and commercial trials of the NovaqPro ingredient.
• Fish Vet GroupsupportingStrategic or Co-development PartnerResearch partner for NovaqPro trials, providing veterinary and health assessment expertise for shrimp trials evaluating disease resistance and survival rate improvements.
• University of QueenslandsupportingStrategic or Co-development PartnerAcademic research partner for NovaqPro scientific validation, contributing to peer-reviewed studies on shrimp feed performance published in aquaculture journals.
• Auburn University USAsupportingStrategic or Co-development PartnerInternational academic research partner for NovaqPro studies, contributing scientific expertise to peer-reviewed research validating NovaqPro's efficacy in shrimp nutrition.
• Oceania Meat ProcessorssupportingStrategic or Co-development PartnerAcquired December 2023, Oceania Meat Processors expands Ridley's animal co-product processing capability in New Zealand. Integrated into Ridley Ingredient Recovery operations.
• Primo AquaculturesupportingChannel Partner/ Reseller/ DistributorPrimo Aquaculture is a specialty product distributor operating within Ridley's Specialty Products Distribution network, distributing aquaculture feed and related products across Australia and New Zealand.

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Alltech: Privately held global animal nutrition company focused on specialty feed additives, premixes, and species-specific formulations. Comparable through its science-led nutrition platform, aquaculture presence, and proprietary ingredient portfolio analogous to Ridley's NovaqPro franchise.
• BioMar: Pure-play aquaculture feed manufacturer (salmonids, shrimp, warmwater species) owned by Schouw & Co. Directly competes in the specialty shrimp and finfish feed markets that Ridley targets with NovaqPro and Primo, with similar emphasis on performance and sustainability.
• De Heus Animal Nutrition: Global animal feed manufacturer with poultry, swine, ruminant, and aquaculture feed portfolios focused on emerging markets. Closely comparable mid-sized challenger model targeting species-specific nutrition performance in geographies adjacent to Ridley's Asia-Pacific ambitions.
• Nutreco: Global animal nutrition leader producing aquaculture feed (Skretting) and livestock premixes/compound feeds. Directly comparable as a global animal-nutrition platform with deep aquafeed technology and species-specific formulation expertise serving the same customer base as Ridley.

Broad incumbents

• Charoen Pokphand Foods (CPF): Asia-Pacific integrated agribusiness with major aquaculture feed operations and shrimp value chain presence. Serves as both a potential customer for NovaqPro and a regional competitor in Asia-Pacific aquafeed markets where Ridley sells NovaqPro out of Thailand.
• Cargill Animal Nutrition: Global agribusiness giant with extensive animal nutrition and aquaculture feed operations. Operates at much greater scale and breadth across species and geographies, but competes with Ridley on shrimp nutrition (including via the EwOS/Cargill Aqua Nutrition heritage) and commodity procurement.
• Land O'Lakes Animal Nutrition: Major US agricultural cooperative with Purina Animal Nutrition and WinField United agronomy businesses. Comparable broad animal nutrition platform; Ridley Bulk Stockfeed COO Tim Leviny was previously SVP International at Land O'Lakes.

Emerging players

• ForFarmers: European-listed animal feed compounders focused on ruminant, pig, and poultry feed with growing aquaculture and specialty ingredient interests. Comparable scaled feed manufacturer with vertical integration and species-specific formulation expertise similar to Ridley's Bulk Stockfeeds division.

Regional players

• Elders Limited: Australian-listed agribusiness providing rural supplies, livestock inputs, and agronomy services. Comparable regional platform serving the same eastern-seaboard livestock and cropping customers; Tim Leviny (now Ridley COO Bulk Stockfeed) previously held senior roles at Elders.
• GrainCorp: Australia's largest grain handler and agribusiness with edible oils and malt operations. Closely comparable regional peer operating across the Australian grain belt with similar exposure to grains prices, eastern states growers, and commodity trading dynamics.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/ridley-corporation-ltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries4 records

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ridley Corporation