Saturday 17 March 2018

Origin sells its stake in Valeo Foods for €86.6m

Origin Enterprises has sold its 32pc stake in Valeo Foods, which owns the Kelkin, Batchelors and Odlums brands.

The stake, sold to Capvest Partners, was sold for €42.5m in cash and €44.1m in full settlement of a vendor loan note.

Proceeds from disposal will be used initially to reduce debt and ultimately for investment in agri-services

The company will now focus mainly on fertiliser and animal feed products.

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