Alliance Group returns to profit after two years with $93m turnaround
After two years, Alliance Group has returned to profit.
Browne says a unique combination of customer relationships, resources, skills, routes to market and industry knowledge, will give both Dawn Meats and Alliance a powerful competitive edge, locally and globally.
His comments came after Alliance farmer shareholders voted in favour of the $270 million investment by Dawn Meats in exchange for a 65% stake in the co-operative.
“We are pleased and excited by the outcome of the vote by Alliance’s farmer-shareholders,” Browne says.
He says following an extensive engagement and due diligence process, Dawn Meats put forward a strong strategic partnership proposal involving a significant investment in a world-class company that shares their values, ambition and commitment.
“I would like to thank Alliance’s farmer-shareholders for carefully considering our offer over the last two months and supporting it to such an extent.”
He says Dawn Meats has a proven track record of successfully partnering with other businesses.
“We believe this joint venture with Alliance will assist in further growing and developing what is an excellent New Zealand business with a proud legacy of processing and exporting the highest-quality grass-fed lamb, beef and venison.
“Dawn Meats already has a strong operations network in Ireland, the UK and in the EU. Having the ability to now grow in partnership with some of New Zealand’s leading farmers, and create a year-round supply for our customers between the Northern and Southern Hemispheres, is a fantastic opportunity and one our customers are already responding to.
“We believe this partnership will create a dynamic industry competitor with a unique combination of customer relationships, resources, skills, routes to market and industry knowledge, giving both Dawn Meats and Alliance a powerful competitive edge, locally and globally.”
He adds that the existing team in Dawn Meats and Dunbia look forward to working with their new colleagues in Alliance.
“I would like to welcome them to the Dawn Meats family.”
