Ridley Corp. and its wholly owned subsidiaries, CSF Australia and CSF Protein NZ Limited, have entered into an agreement to acquire Oceania Meat Processors (OMP) for NZ$57 million.
OMP is a premium producer of mechanically deboned meat frozen block products (MDM) and other raw materials for the global pet food industry. MDM Products are a key pillar of Ridley’s ingredient recovery growth strategy. OMP is expected to make a meaningful contribution to this business segment and enhances Ridley’s offering to suppliers and pet food customers, said the company.
Established in 2002, OMP is a leading supplier of premium inputs to the global pet food industry with approximately two-thirds produced at its operations in Melbourne, Australia (adjacent to Ridley’s existing Ingredient Recovery facility in Laverton) and one-third at its operations in Timaru, New Zealand.
The business produces multispecies products, including lamb, beef, venison and veal, and other ingredients which are supplied through established supply chains to domestic and international customers. Key management personnel will be secured as part of the transaction.
“The acquisition of OMP represents a key milestone for Ridley’s Ingredient Recovery business in the delivery of its FY23-25 growth plan – providing a meaningful contribution to Ridley’s ambition to ‘climb the wall of value’ by producing bespoke, higher value nutrients from existing and new raw material suppliers,” said Quinton Hildebrand, Ridley’s managing director and CE. “The acquisition also significantly increases Ridley’s capacity to service the domestic and international pet food industry. We are extremely excited about the opportunities this acquisition provides to Ridley, our suppliers and customers, and look forward to the team at OMP joining the Ridley business.”
As an animal feed manufacturer, Ridley serves a diverse mix of species and life cycles with locations in Australia and Thailand.
Source link : https://www.petfoodindustry.com/news-newsletters/pet-food-news/news/15660672/ridley-to-acquire-oceania-meat-processors
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Publish date : 2023-12-20 03:00:00
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