Dawn Meats to acquire 65% stake in New Zealand processor

Proposed partnership would see Dawn Meats invest €127.8m to acquire a stake in the Alliance Group, a farmer-owner cooperative which is New Zealand's largest processor and exporter of sheep meat and a key producer of grass-fed beef

The Alliance Group is owned by about 4,300 shareholders. The company operates six processing plants in New Zealand.

Waterford's Dawn Meats has been selected by the board of a New Zealand meat producer to acquire a 65% stake.

The proposed partnership, which is subject to shareholder approval, would see Dawn Meats invest NZ$250m (€127.8m) to acquire a stake in the Alliance Group, a farmer-owner cooperative which is New Zealand's largest processor and exporter of sheep meat and a key producer of grass-fed beef.