Reid Stockfeeds, a proud Victorian family-owned business, has been creating and delivering quality feed for healthy livestock for nearly 40 years. Starting from their kitchen bench and delivering in a little red Ford 600 tipper, they have grown into a respected family business supplying farms across Victoria, New South Wales, South Australia and other areas within Australia. The Reid Family have also been committed members of FBA since 2013, making a great contribution to our family business community and engaging in conferences, events and our Forum Group Program for over 10 years' collectively. We had a chat with them to find out more about their story, family business and how they have continued to evolve over the years. At the end of our chat, they also generously shared their advice for other family businesses.
Tell us about your business?
Our journey into stockfeed began during the 1984 drought when the founders, Ian and Rosli Reid, faced mounting debt exacerbated by a 13% interest rate. With pressure from the bank, they realised the need to consolidate their efforts in shearing, nursing, and farming into a single business focus. After exploring various options, they chose stockfeed as a way to vertically integrate cereal crops from their home farm. In 2014, their eldest son Nick, representing the second generation, joined the business in a sales capacity and now leads as CEO. His younger brother Dane also plays a crucial role at board level, staying informed on the company's strategic direction.
Generally speaking, stockfeed is a little known niche outside of farming circles. It’s essential for the health and productivity of animals and ultimately commercial outcomes for our livestock farming communities. We often describe it as baking a cake; our nutritionists formulate the ration based on animal/farmer needs and then our manufacturing plants crush and blend a variety of ingredients composed of broad inputs across grain, protein, vitamins, minerals and oils. For those requiring a more structured form, the mash is then pressed into pellets, similar to pouring cake batter into moulds and baking until firm. We then deliver this feed by truck direct to farms or distribute through Ag reseller networks in packaged bags.
Nutritious stockfeed is critical for farming livestock as it ensures they receive all necessary nutrients for growth and productive gain, leading to happy and healthy animals that meet business outcomes for farmers. Next time you drive past a free-range chicken farm, take note of the multiple feeders in the paddock. This is where the chickens receive the vast majority of their daily nutritional needs and that comes from stockfeed.
What has been your greatest success?
That depends on who you ask! In recent times, it’s been evolving the business after rapid growth from acquisition. We’ve had to upgrade our talent pool of people, review IT systems and more thoroughly map our strategic vision. This hasn’t come without some trips along the way and the work is never-ending but it feels like some of the seeds from this work are bearing fruit.
We aspire to be a workplace of choice, ensure everyone has at least two numbers they can refer back to as a signal for a great working week, a workplace where everyone understands what we do and don’t stand for, take our opportunities to educate the wider public on food origins and in the process have fun within our communities. I’m not saying we always do this well but that’s some of the current aspiration.
What do you value about FBA?
Our original motivation was centred around structuring up our board and succession planning for the next generation. This has changed over time and is now more-so regarding networking opportunities that come about from business insight tours or conferences.
What advice would you give to other family businesses?
What you put in, you get back out. Clichéd though it is, you don’t learn anything by keeping yourself locked away in your own business. Learning comes from new sources of inspiration, so what better way to learn than inserting yourself amongst many other business owners and learning from their blood, sweat, and tears. I’ve personally gained from the ideas harvested and connections made leading to ongoing friendships and business associations to this day. And if I might add, the best dinner of my life at FBA’s Alice Springs Conference. Telegraph Station under a sea of stars, tack it on the bucket list, what an incredible experience.
If you or someone you know have stockfeed needs for their dairy, beef, poultry, pig or sheep operation send them to Reid’s.
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