Ireland-based meat giant ABP Food Group and UK agri-food business Fane Valley Co-op plan to extend their joint venture.
The venture will now include Linden Foods, Fane Valley’s UK meat processing arm. Under the terms of the deal, ABP plans to buy a 50% stake in Linden Foods. The venture, which also includes international beef processor Slaney Foods and sheep meat business Irish Country Meats, will then trade as Linden Foods. The transaction is subject to competition approval.
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Fane Valley CEO Trevor Lockheart said: “The joint venture will ensure that the business can capitalise on new commercial growth opportunities within both the domestic and international marketplace. The involvement of ABP will strengthen our global sales network and assist in ensuring Linden maximises the returns from all parts of the animal, including the fifth quarter. This will be a pre-requisite to delivering sustainable returns to primary producers in a post-Brexit era.”
In March, ABP and Fane Valley appointed former Bord Bia CEO Aidan Cotter as chairman of their joint venture.
