Australia: Minerva Foods acquires Australian Lamb Company

Minerva Foods Australia has announced the acquisition of Australian Lamb Company, an Australian meat firm.

Minerva Foods Australia, a joint venture of Minerva and Saudi Agricultural and Livestock Investment Company (35%), will own 100% of the issued shares in Australian Lamb Company, in a deal worth A$400 million ($253 million).

Australian Lamb Company is one of the largest meat producers inAustralia, with the ability to produce about 100,000 tons of lamb and sheep meat annually, with exports to 70 countries. Its brands include Ambassador, Sovereign, 1788 and Everdene Oak.

The investment will enable the company to expand its international reach, invest in its workforce, facilities and technology, Minerva Foods Australia said.

Iain Mars, CEO of Minerva Foods Australia said: “The highly skilled workforce at ALC produces an incredible product which is well respected around the world and we are looking forward to building on this reputation”.

The deal includes two operational sites, and the transition is expected to occur on 31st October 2022.

Source: Australian Lamb Company / Foodbev