Associated British Foods (ABF) has agreed a cash purchase of dairy technology company National Milk Records (NMR) for £48 million.
ABF’s indirect wholly-owned subsidiary, AB Agri, will acquire the entire share capital of NMR. AB Agri is an international agri-food business with over 3,000 employees internationally and a presence in more than 80 countries.
José Nobre, chief executive of AB Agri, said: “I am delighted to be announcing AB Agri’s intention to acquire NMR. NMR is a high-quality business which is extremely complementary and additive to our dairy strategy and offering to the dairy industry.”
He continued: “We have supported dairy farmers for more than 30 years with nutrition and specialty feed products, and more recently with data and technology platforms which deliver insights that create continuous improvement in agricultural supply chains”.
AB Agri believes the acquisition will allow NMR to “accelerate and de-risk the delivery” of its strategy of supporting customers across the dairy industry, helping to drive efficiency and increase productivity.
The agri-food business is said to have an established position in the UK dairy industry, working with over 2,000 dairy farms.
The acquisition is expected to become effective during Q3 2023.
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