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Ireland: Fane Valley and Freshgrass to Acquire Grain and Feed Company Drummonds

Source: Feedindo Logo Final

26 November 2021 - Freshgrass Holdings and Fane Valley Co-operative Society have reached an agreement to become 50/50 joint owners of Irish feed, grain and agronomy company, Drummonds.

Drummond's core activity is the purchase and marketing of Irish grain based commodities including feed grains, milling oats, milling wheat, malting barley, oilseeds and pulses. Drummonds also operates a seed manufacturing facility in Drogheda and a ruminant feed manufacturing mill in Navan.

Liam Woulfe, Chairman of Drummonds, said: “This is a very exciting opportunity for our excellent staff, cereal growers, agri-customers and all other stakeholders. The primary driver to creating this JV is solely to utilise the strengths and business acumen of both partners to deliver an even more successful Drummonds’ proposition, especially given the increasing focus on the environment and sustainability.”

Trevor Lockhart, CEO, Fane Valley Co-operative Society, added: “In my view, this is an exceptional business partnership and from our discussions and assessments there are great synergies in the vision, ambition and culture of both partners”.

The deal is subject to the approval of Ireland's Competition and Consumer Protection Commission.