FLOW: Demutualisation would have benefits for CBH.

Bid opportunity for CBH

The Australian Grain Champion’s proposal to demutualise CBH will most likely be rejected by the CBH board, but it could be the catalyst for a CBH-led demutualisation.


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Business Council of Co-operatives and Mutuals
Simon, I'm impressed with your passion but you are most ardently misinformed on demutualisation. Demutualisation has a chequered history. Look at the performance of AMP and NRMA post demutualisation - what goes up most definitely came down. There's a graveyard called demutualisation and on the tombstones are many once beloved Australian owned brands, not to mention entire industry sectors (sugar anyone?). Indeed Wesfarmers has grown to become a retail behemoth championing the interests of shareholders, but not farmers any longer. This is about objectives and choices. Bunge, Cargill and Glencore are commodities trading desks in far flung cities. CBH is a highly profitable WA farmer owned and controlled business. As for governance. The biggest governance shakedown, the GFC, had many midwives, but none went by the name of 'co-op'; so what's your point there?

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WA Revenue most recent financial year

1st-CBH Group$3.79bn
3rd-KB Food$613.8m
4th-Plum Grove$493.0m
5th↑Geraldton Fishermen's Co-operative$350.7m
98 agribusiness ranked by WA revenue most recent financial year

WA export revenue

4th-Fortescue Metals Group$8.89bn
5th-Gold Corporation$18.90bn
6th↑CBH Group$3.00bn
7th-Alcoa of Australia$4.10bn
8th-Roy Hill Holdings$5.16bn
49 exporters ranked by WA export revenue most recent financial year

WA Revenue

1st-CBH Group$3.79bn
2nd↑St John of God Health Care$1.80bn
65 not for profit businesses ranked by WA revenue most recent financial year

Number of Employees