Ingham’s will sell its New Zealand dairy nutrition business to SunRice Group for around $10.79 million (NZ$11.5 million). The sale is expected to be completed by the end of March.
The Hamilton feed mill and associated dairy feed supply business in New Zealand will be sold as part of the deal, which is no longer “core to the Ingham’s operation,” the company said in a statement.
“The sale reflects Ingham’s focus on optimising its core poultry business as part of its strategic objective to deliver more consistent, predictable and reliable returns to shareholders,” it said.
The sale is “not expected to have a material impact on earnings in FY2021”. It is expected to be completed in 2021.
Ingham’s ranked in at #8 in the Top 100 Food & Drink Companies 2020 report.
