24 BWA | JUL 2026 supported by growth in freight services and network optimisation across the east coast. But the broader model becomes more interesting when the partner and acquisition layer is added. In July 2023, Lindsay acquired WB Hunter, a long-established rural merchandising business with an eight-store footprint across northern Victoria and southern New South Wales. The company says that acquisition aligned with Lindsay Rural’s ambitions and strengthened its reach into agricultural-supply markets where agronomy, fencing, nutrition and trade products all matter. That acquisition is more than a bolt-on. It shows Lindsay pushing further upstream into relationships with farmers rather than focusing only on downstream freight. The annual report says a bolt-on acquisition, Nagambie Equine Rural, was also added to WB Hunter in FY2025, reinforcing the sense that Lindsay is trying to build a broader rural-services platform rather than just a bigger trucking network. The same logic applies on the logistics side. SRT Logistics became a wholly owned subsidiary of Lindsay in May 2025, with the company describing the deal as creating the country’s largest refrigerated logistics network and materially improving connectivity between Tasmania and mainland Australia. SRT’s own page says it already served some of Australia’s most respected food manufacturers, producers and retailers, making it
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