Fane Valley buys Donegal animal feed firm for £15m
- Published
Smyths Daleside Feeds is based outside Lifford, close to the Irish border
Fane Valley, the Northern Ireland agri-food business, has bought a Donegal-based animal feeds firm for just over £15m.
Smyths Daleside Feeds was sold by the Donegal Investment Group.
The business supplies feed for farm animals across the north and northwest of Ireland.
It also includes a warehousing, customs clearance and port services division based at Lisahally Port.
Trevor Lockhart, the Fane Valley chief executive, said the purchase would allow the group to extend its catchment area for the supply of animal feeds and complements an £18m investment in a new feed mill in Omagh in 2010.
He added that Smyths Daleside will continue to trade under that name and day-to-day operational responsibility will remain with local management and staff.
This is Fane Valley's second cross-border deal this year.
In March, it bought the County Monaghan-based duck producer Silver Hill Foods.
Fane Valley has more than 2,000 employees and turns over more £500m a year.
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