Sale of Manor Farm ‘to guarantee firm’s viability’

The sale of chicken processor Manor Farm — one of Ireland’s oldest family businesses — to a Swedish firm guarantees its viability while preserving all jobs, the company has said.

The largest chicken processor in the Republic is the process of being bought by Swedish company Scandi Standard for an initial payment of some €70m, which includes settlement of debt.

Payment will be partly in the form of Scandi Standard shares, and there is also an earn-out mechanism, Manor Farm said. Completion of the transaction needs approval at an EGM of Scandi Standard later in the summer.