Police are investigating a bizarre armed robbery which occurred on a country road near Creswick this afternoon.
Detective Sergeant Tony Coxall from Moorabool Criminal Investigation Unit said two vehicles arranged to meet on a quiet section of Gillies Road just after 1pm.
He said the two parties had agreed to meet to settle a dispute over property.
During the meeting, a 33-year-old Clunes man was assaulted with a wheel brace.
Items were also stolen from the victim at the time.
Police say two people who stopped their vehicles intervened and were able to stop the incident from escalating further.
The offenders fled the scene towards Ballarat on Gillies Road.
Just over an hour later, a man and a woman from Wendouree were arrested by police and taken to the Ballarat Police Station.
They are being interviewed and are expected to be charged later today.
Detective Sergeant Coxall conceded the incident was "unusual".
The victim received minor injuries and was treated by ambulance at the scene.
He declined transportation to hospital.