Fane Valley buys Donegal animal feed firm for £15m
Fane Valley, the Northern Ireland agri-food business, has bought a Donegal-based animal feeds firm for just over £15m.
Smyths Daleside Feeds was sold by the Donegal Investment Group.
The business supplies feed for farm animals across the north and northwest of Ireland.
It also includes a warehousing, customs clearance and port services division based at Lisahally Port.
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Trevor Lockhart, the Fane Valley chief executive, said the purchase would allow the group to extend its catchment area for the supply of animal feeds and complements an £18m investment in a new feed mill in Omagh in 2010.
He added that Smyths Daleside will continue to trade under that name and day-to-day operational responsibility will remain with local management and staff.
This is Fane Valley's second cross-border deal this year.
Fane Valley has more than 2,000 employees and turns over more £500m a year.