Poultry giant Moy Park on the market just two years after it was bought by current owner
Northern Ireland poultry giant Moy Park — one of the region's largest employers — is being put on the market just two years after it was bought by its current Brazilian owner.
It is now one of the UK's top 10 food companies, and part of the Brazilian-based JBS Group, which bought the business in 2015 for $1.5bn.
Moy Park, based in Craigavon, employs 6,300 people in Northern Ireland and a total of 12,000, including its operations in Europe.
It recorded pre-tax profits of £35.7m in 2015.
Janet McCollum, Moy Park chief executive, said:
“Earlier today, JBS SA announced a programme of divestment focused on strengthening JBS’s financial position through net debt reduction. The assets currently under consideration for sale include the Moy Park business.
“Moy Park is a successful and growing food business with a solid financial standing. I have no doubt that our success is due to the great strengths of this business — our exceptional people, innovation and performance.
“I also know that this will ensure our continued growth and stability well into the future.
“Our priority remains business as usual — delivering outstanding quality, innovation and service to our customers and consumers.”
JBS is selling off different parts of its huge global business, including shareholding stakes in Moy Park.
Just last month, its chief executive, received the Lifetime Achievement Award in the Belfast Telegraph Business Awards in partnership with Ulster Bank.
Janet McCollum was honoured for making a hugely positive impact in the business community here as well as playing a major role in representing the agri-food industry nationally and internationally.
The Belfast-born executive, who is married with three children, has overseen a major expansion in the business, including its growth in the convenience food sector, which has helped drive profits.