ABP Food Group Sells Silvercrest Facility to Kepak

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ABP Food Group Sells Silvercrest Facility to Kepak

ABP Food Group Sells Silvercrest Facility to Kepak
April 18
13:17 2013
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The ABP Food Group has taken the strategic decision to exit the frozen burger sector in Ireland and as a consequence has sold its Silvercrest facility at Ballybay in County Monaghan, which was involved in the horsemeat scandal, to Kepak Group, subject to Competition Authority approval. The terms of the transaction are confidential.

The sale involves the transfer of the 122 staff currently employed at Silvercrest. Throughout the last three months ABP has maintained the Silvercrest staff on full pay whilst the future of the plant was resolved.

Paul Finnerty, chief executive, ABP Food Group, comments:“The decision to sell the facility is the right one for both the wider group and also for the 122 employees at the County Monaghan site who transfer as part of the deal. Our decision to sell the Ballybay facility allows the group to move forward positively with our core chilled beef business and other developing businesses.”

ABP Food Group was one of a large number of leading European operations affected by the equine issue. The issue affected frozen burgers which are not core to the group’s future business strategy.

ABP Food Group’s chilled business, which is the core activity for the group, has been unaffected by the horsemeat issue and sales of its chilled beef products have remained unaffected.

“Irish beef is held in the highest regard internationally and, as Europe’s largest beef exporter, ABP Food Group will continue to invest in expanding and developing this and the other businesses within the Group,” he adds.

ABP employs 8,000 in 36 facilities in eight countries, of which 2,500 are employed in Ireland and in the past three years has invested Eur150 million in the expansion and development of its businesses in Ireland and abroad.

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