Moy Park acquires firm in €30m deal

CHICKEN processor Moy Park has acquired O’Kane Poultry in a €30 million deal that will result in an operation with a combined staff of 8,500.

Brazilian meatpacker, Marfrig, which owns Moy Park, will pay half the amount now and the second half in June next year. O’Kane, based in Ballymena, Co Antrim has the capacity to process 120,000 chickens and 5,000 turkeys a day and had sales of £132m (€153.13m) last year.

The deal will bring together two of the country’s top poultry firms in a move designed to accelerate market growth for the enlarged business.