“We Mortgaged Our Houses”.... The Bet That Became Delta Agribusiness with Gerard Hines and Chris Duff

Gerard Hines and Chris Duff have spent nearly four decades working alongside each other, building one of Australia's most respected independent agribusinesses from a single rural store into a national business. What does it take to build an agribusiness from a handful of people into a national business, without losing the culture, relationships and local connection that made it successful in the first place? Gerard Hines and Chris Duff are the co-founders of Delta Agribusiness. Their working relationship stretches back almost 40 years, from a small rural business near Young, NSW, through the creation of Delta Agribusiness in 2006 and more than 20 acquisitions, before Delta ultimately became part of Elders. This is a conversation about much more than growth. Gerard and Chris unpack the decisions, people and principles underneath it, from backing themselves during drought, putting their own money on the line and using employee ownership to create alignment, to learning why balance sheet strength, local relationships and great people matter when building a business for the long term.

Key insights from the conversation: How Gerard and Chris built a partnership spanning nearly 40 years through trust, respect and shared values Why bringing independent agronomy into agricultural retail fundamentally changed their business model The role mentors and early equity opportunities played in shaping Delta's inclusive ownership philosophy What IAMA, Wesfarmers and AWB taught them about leadership, governance, systems and financial discipline Why Delta was founded during the middle of a severe drought and how backing themselves changed everything The importance of maintaining a strong balance sheet so opportunities can be seized during difficult seasons How focusing on people, culture and local relationships drove more than 20 successful acquisitions across Australia Why equity ownership became one of Delta's greatest tools for attracting, retaining and aligning great people How staying connected to customers and the frontline has remained critical, even as the business has grown nationally The lessons learned from succession planning, bringing in private equity, and ultimately partnering with Elders to secure Delta's next chapter Chapters: 00:00 Introduction to Gerard Hines and Chris Duff's Journey 01:52 Early Days of Agriculture and Agronomy 04:00 Founding of Delta Agribusiness and Initial Challenges 08:05 The Impact of Industry Changes and Mergers 11:57 Lessons Learned from Industry Challenges 15:57 Growth Strategies and Private Equity Involvement 20:08 Building Company Culture and Leadership 25:02 Managing Growth, Succession, and Industry Dynamics 31:47 The Decision to Start Delta and Early Risks 36:04 Timing and Market Conditions During Launch 40:03 Resilience During Droughts and Market Cycles 45:07 The Role of Relationships and Trust in Business 49:48 Strategic Acquisitions and Private Equity Partnerships 54:58 Adapting to Industry and Market Changes 59:55 Leadership, Culture, and the Future of Delta

Podcast Keywords Delta Agribusiness, Gerard Hines, Chris Duff, Australian agribusiness, agronomy Australia, agricultural leadership, agribusiness entrepreneurship, rural business, agriculture careers, agricultural retail, private agronomy, Australian farming, business growth, mergers and acquisitions, employee ownership, business culture, drought resilience, leadership development, succession planning, Elders, regional business, entrepreneurship in agriculture