A shortage of acquisition targets at home was a prime motivator for Dawn Meats’s NZ$270 million (€133 million) bid for a controlling stake in struggling New Zealand meat co-operative Alliance Group.
The Waterford-based company’s bid for 65 per cent of the co-operative received the backing of Alliance’s farmer shareholders in a vote on Monday.
Speaking to The Irish Times, Dawn Meats chief executive Niall Browne said the appetite for red meat was on the rise globally and there were limited opportunities to secure supplies
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