Northern Ireland food and agribusiness completes sale of division for up to £1.04million
Sold to Belfast businessman Plunkett Matthews, Newry-based Roebuck Food Group's animal protein sourcing division is comprised within Townview Foods Ltd
Newry-based food and agribusiness Roebuck Food Group has completed the sale of its animal protein sourcing business.
The division been sold to Belfast businessman Plunkett Matthews of Townview Foods.
Roebuck's animal protein sourcing division is comprised within Townview Foods Ltd, incorporated in Northern Ireland with its principal place of business in Newry.
The disposal means Roebuck's business changing from a combination of the milling and importation of food and ingredients and product sourcing to the milling and importation of food and ingredients only.
The sale to Plunkett Matthews is for up to £1.04million and will reduce Roebuck's indebtedness and includes £300,000 which may become payable within five years, subject to certain condition.
As part of the transaction, it is believed Gerard Murphy will cease to be group finance director and company secretary of Roebuck. He will continue as financial controller of Townview Foods. Following completion of the disposal, Aidan Hughes, currently deputy chairman (and former FD and company secretary) will resume the role of FD and group company secretary.