It has been announced that Moy Park Ltd will acquire O'Kane Poultry Ltd. This means that two of Northern Ireland's leading poultry firms are to come together in a move designed to accelerate market growth and development for the enlarged business.
Moy Park has always been focused on fresh, high quality produce; as well as supporting locally farmed and locally sourced chicken products. It is believed that adding O'Kane to their portfolio will greatly increase the business' scale and capacity and they will hopefully achieve stronger brands and supply networks; while bringing new sources of supply, processing capabilities and market expertise.
Making the announcement, Moy Park CEO Nigel Dunlop had this to say:
"By bringing the resources and expertise of the two companies together, we are creating a business with the scale and sustainability of supply needed to meet the very significant growth opportunities that exist across Europe. I am confident that this acquisition will prove to be a very strategic and positive development for the Northern Ireland agri-food sector and enhance the contribution it makes to the wider Northern Ireland economy."
It is hope that the combined company will employ 5,000 workers in Northern Ireland alone, with a figure of 8,500 employees, overall. Employees of both companies were fully briefed of the planned acquisition and in due course the plans for innovative growth will be shared with them as well.
Commenting on the announcement, O'Kane Poultry Chairman Billy O'Kane said:
"O'Kane Poultry has always been a business with strong family values and its future, and the future of its workforce, matters deeply to us. I believe that today's announcement is a very positive development and that the business will be well placed in the hands of a highly professional company such as Moy Park."
Billy O'Kane assured that the future of the producers who supply O'Kane poultry is secure, as is Ballymena's position as a major centre o employment for the Northern Ireland poultry industry.
Moy Park and O'Kane Poultry currently sells around 200 million chickens and 1.5 million turkeys per year. Both businesses play a vital role in sustaining the local poultry farming sector and have contracts with around 760 local producers.