PAG, the alternative investment firm, has signed an agreement to sell its majority stake in Cordina Group as part of a merger with TUROSI, the Australian operations of global food group OSI.
The transaction will combine Cordina Group, a poultry producer founded over 80 years ago in Girraween, New South Wales, with TUROSI to form a new business trading as Cordina OSI. The combined enterprise aims to create a scaled poultry and food manufacturing platform across Australia’s Eastern seaboard, operating across Victoria, New South Wales and Queensland.
As well as serving retail and foodservice customers, Cordina Group markets products under the brands Cordina Farms, The Cordina Food Co. and Freedom Farms.
Mark Richardson, president and COO of OSI Group, stated: “By combining Cordina’s strong local heritage and customer relationships with OSI’s global industry expertise, operational best practices and international food manufacturing capabilities, we believe the business will be well positioned to better serve customers and pursue its next phase of growth across Australia”.
The merger remains subject to regulatory approval and is expected to close by the end of the year.
Source: PAG / Cordina Group
