Ridley sells share in NSW feedmill plant, new plants elsewhere
Pet food producer, Ridley, has sold its 25 per cent share in an Inverell manufacturing facility.
It is expected the sale will generate approximately AUD $3 million for Ridley.
The decision to sell comes after Ridley announced on 20 January 2017 that it will be constructing a new feedmill in Tasmania and it will be updating its Narangba manufacturing facility.
Ridley first invested in the Inverell manufacturing facility with Indigenous Business Australia in 2010 and was used as an overflow production facility for Ridley.
Chief Executive Officer of Ridley, Tim Hart, said although the facility served Ridley well over the years, with its new facility investments it is no longer required.
“The divestment of the joint venture investment for cash proceeds and a healthy profit is an excellent outcome as part of our strategy to consolidate Aquafeed and Packaged Product activities to wholly owned, state of the art Ridley sites in the most appropriate locations,” he said.
Related articles
- Mars US acquirespet care company
- Mars receives accolades for its Pedigree radio station for NZ dogs
- Mars launches sustainablepet food in UK
Australia’s first widely available certified organic beef hot dog range is now being sold in Woolwor...
Aldi will spend 2018 continuing to expand across Australia with plans to open 32 new stores througho...
A new online platform which allows cafes to pick and choose supplies from different food distributor...
TasteCooking has published an article recently discussing the benefits of pine nuts and the reasons...
Woolworths has launched its 2017 integrated Christmas marketing campaign titled ‘Share the spirit of...
Crust is now delivering alcohol with its pizzas in selected areas of Melbourne.
In a statement responding to the Herald Sun on the 17 January 2019, Australian Food and Grocery Coun...
The Fair Work Ombudsman has said the Baiada Group, Australia’s second largest poultry processor, has...