ABP is set announce the takeover of the remaining shares in Slaney Foods in Clohamon and Irish Country Meats in Camolin.
In a statement released this afternoon the Irish Farmers Journal says – that ABP is to buy out Fane Valleys share of Slaney, Irish Country Meats and Linden Foods in Northern Ireland.
It means the end of joint venture with Fane Valley and hand full control to the Goodman Group.
IFA President Tim Cullinan said the full takeover of Slaney Meats and ICM by ABP is a further erosion of competition in the processing sector.
“This consolidation of the buying power for livestock in the hands of a few has to be addressed by the Minister for Agriculture Charlie McConalogue and the Consumer Protection and Competition Commission (CPCC),” he said.
It comes five years after a joint venture in which ABP took a 50% share in the businesses.
Speaking to South East Radio Pat O Toole, News Correspondent with the Irish Farmers Journal and Ferns native, explains why the move is unpopular among those in the industry.
“If we look back to 2016, there was a campaign by farmers against ABP buying the original 50% which was previously own by Bert Allen and the Allen family who founded Slaney meats, on the grounds that he effectively has control on over half of Irish processing and had an unfair advantage as things stood.
“So, I don’t think this will be well received by farmers.”
To listen back to the full interview with Pat, click below.
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