Roebuck Food Group Divests Dairy Operations in €1.45 Million Deal
Source: The DairyNews
Roebuck Food Group, listed on the AIM market, has completed the sale of its dairy business to a partnership active in the Irish dairy milking industry for €1.45 million. This transaction involves the dairy division housed within Cantwellscourt Farm Ltd, a wholly-owned subsidiary of Roebuck, based in Kilkenny, Ireland. Cantwellscourt Farm operates a 452-acre dairy farm with approximately 470 milking cows.
This strategic divestiture shifts Roebuck Food Group's focus solely to its core businesses of milling, importing food and ingredients, and product sourcing, moving away from dairy farming. The sold dairy division reported a revenue of €1.6 million and a loss after tax of €500,000 for the year ending December 31, 2023, with net assets valued at €1.44 million.
Roebuck's remaining portfolio includes Townview, a BRC-certified international sourcing partner and wholesale supplier of meat, seafood, and dairy ingredients, and Moorhead & McGavin, which specializes in the importation, milling, and contract packing of dried pulses, cereals, grains, pasta, rice, and flours. This divestiture marks a significant realignment of Roebuck Food Group’s business strategy, focusing on strengthening its position in the global food ingredients market.
Roebuck's remaining portfolio includes Townview, a BRC-certified international sourcing partner and wholesale supplier of meat, seafood, and dairy ingredients, and Moorhead & McGavin, which specializes in the importation, milling, and contract packing of dried pulses, cereals, grains, pasta, rice, and flours. This divestiture marks a significant realignment of Roebuck Food Group’s business strategy, focusing on strengthening its position in the global food ingredients market.
