Alliance plans to offload 65% of shares for $250m
Alliance Group has announced plans to sell a 65% stake in the farmer-owned co-operative to Irish meat processor Dawn Meats Group for $250 million.
The M&S branded range, all further processed in New Zealand, is now available in 11 stores on the island, home to almost six million people.
The farmer-owned co-operative is supplying lamb mince and shoulder, French racked lamb, diced beef, minced beef and stir fry strips and sirloin, ribeye and fillet steaks.
Shane Kingston, general manager sales at Alliance Group, says M&S was looking for a trusted partner to help it meet the growing demand for protein in Singapore.
“This programme is the culmination of discussions between Alliance and M&S, which began almost two years ago. M&S recognised Alliance as a global trusted leader in the grass-fed free-range beef and lamb category.
“This partnership fits with our strategy to capture more market value and builds on our existing long-term relationship with M&S.”
The global retailer is targeting customers including locals, ex-patriates and premium ‘foodies’ customers with a promotional campaign underpinned by a ‘farmer to consumer’ story and a focus on quality.
M&S operates more than 1,500 stores across the globe and serves nearly 30 million customers every year.
