I have an exciting update to share with you.
This year, Rocky Point approached Bassett Barks to consider an acquisition. There is a 40-year history with Hyne Timber and this great Sunshine Coast business where they have been the sole customer of bark from the Tuan Mill near Maryborough. I am pleased to advise you that the acquisition agreement was executed on 14 August 2024, with completion to occur on 2 September 2024. Rocky Point assumes full ownership of the business from this date.
Through extensive due diligence over the past few months, this decision has been made with our company’s growth interests at the forefront. Today marks the start of our new chapter and it is an exciting day for these two complementary businesses to come together with Rocky Point’s nursery and retail bagged product strength and Bassett Barks bulk products, agriculture and wholesale nursery strengths. This North of Brisbane location gives us further reach to the growing Sunshine Coast region. This site, which is close to sawmills, offers freight efficiencies for processing raw materials long term.
Bassett Barks is one of Queensland’s largest landscaping and potting media supply companies located on 40 hectares at the foot of the Glass House Mountains. This alignment will ensure efficiencies and servicing of a wider customer base in the Sunshine Coast’s growing region.
Over the coming months, our businesses will operate as usual with no change to our company branding while looking towards leveraging strategies. Operational structures will remain the same and planning will be underway for stable and sustained growth in both businesses.
If you have any questions, please direct them to communications@rockypoint.com.au so we can consolidate them and provide answers to all team members as applicable.
