After over a century of ownership, The Joyce family’s Eidsvold Station and its adjoining breeding blocks were recently sold to Rick and Alice Greenup for an undisclosed amount.
The Greenups took over the management of the Eidsvold Station herd in 2006 and a staged purchase of the cattle and the land followed.
Barney Joyce established the Eidsvold Station Santa Gertrudis Stud in 1953, and with the closure of King Ranch, Stud 1, Eidsvold Station became the oldest Santa Gertrudis stud in Australia.
Anthony Coates, nephew of Barney Joyce, recently reflected how this unconventional succession plan came to fruition.
“Barney had aspirations and a vision for the Santa Gertrudis breed and the role Eidsvold Station would play in that future. He put together an aggregation of four blocks – a combination of breeding and fattening country to meet this growing demand.”
“When our children decided not to continue the business, my wife Sally and I had some tough decisions to make.
“We probably could have sold off the blocks separately, but that would have destroyed Barney’s plan and I believed that it was a good unit, and it should stay together.
“Selling the unit as whole – the herd and land to some-one who appreciated the heritage and the stud background was the best outcome.” Mr Coates said.
“I was attracted to Rick and Alice’s approach to business and their philosophy on breeding and grazing management to produce a sustainable enterprise.
“We shared a passion for breeding cattle that would perform well without being pampered.”
The plan was for Rick and Alice to lease the breeding herd and buy it over four years, and lease the land and buy it over the next few years.
“The plan didn’t go in a perfect straight line; it took longer than planned, but with give and take we achieved what we all set out to do.
The plan didn’t go in a perfect straight line; it took longer than planned.
- Rick Greenup
We will leave Eidsvold Station with sadness, but feel satisfied that what our family built, has gone into good hands.”
Rick Greenup said had been a long haul and there were times when he and Alice questioned how they would pull it off, and had to push the final settlement out a couple of years.
“We are hugely grateful to Anthony and Sally Coates for the opportunity to build on their legacy and standing by us during some tough years.”
