Scottish farmer-owned co-operative ANM Group has announced plans to sell its Scotch Premier Meat and Yorkshire Premier Meat businesses following a strategic review of its operations.
In a statement yesterday (19 July), the company said its board had taken the decision to offload Scotch Premier Meat and Yorkshire Premier Meat to "refocus on its traditional core business" of auction and valuation services, including its property portfolio. The move, ANM said, would "ensure the future long-term sustainability of the group".
Despite the "continuing difficult trading conditions" in the UK meat processing industry, ANM said "substantial" improvements" have been made to the costs and operations of both units over the last few months, which now offer "significant potential for interested parties".
ANM said it will make no further comment until "substantive progress" with the sale has been made.
Rival meat firm Vion is scaling back its production network in the UK. It cited "significant over-capacity in the UK meat industry" and "extremely challenging" when it announced plans to close its Broxburn site in Scotland earlier this month.
Show the press release
ANM Group To Sell Scotch Premier Meat And Yorkshire Premier Meat Following Strategic Review
The ANM Group can confirm that following a strategic review of the group's operations by the management team, it has been decided to offer for sale the Scotch Premier Meat and Yorkshire Premier Meat businesses.
The Board of ANM Group has taken the decision to refocus on its traditional core business, namely auction and valuation services, including its property portfolio, to ensure the future long-term sustainability of the Group.
Despite the continuing difficult trading conditions in the UK meat processing industry, substantial improvements have been made to the costs and operations of both Scotch Premier and Yorkshire Premier over the last few months which now offer significant potential for interested parties.
The Board of ANM Group has identified the need to concentrate on what the Group does best through its core trading activities and is therefore looking to dispose of its non-core activities.
Scotch Premier and Yorkshire Premier have skilled, dedicated workforces and it will be business as usual with our employees continuing to deliver first class products and service to our customers.
The ANM Group wishes to reassure its suppliers, employees and members that the Group is in good shape overall with a sound financial position.
There will be no further comment by the ANM Group until substantive progress has been made.
Original source: ANM Group
