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Fane Valley seals deal for Irish duck producer Silver Hill

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Investment: Trevor Lockhart

Investment: Trevor Lockhart

Investment: Trevor Lockhart

Northern Ireland agri-food giant Fane Valley has acquired an Irish duck producer and exporter.

Fane Valley, which also owns Linden Foods and White's Speedicook, paid an undisclosed sum for Silver Hill Foods in Emyvale, Co Monaghan. Fane Valley has supplied feed to the company for around 10 years.

Silver Hill's management team is to stay on in the business, though some new Fane Valley directors will join the board.

Fane Valley chief executive Trevor Lockhart said: "We have acquired a highly reputable Irish agri-food business.

"We are committed to future investment in production facilities on the Emyvale site."

He said Fane Valley now hoped that the company could build sales in new markets such as Malaysia, Indonesia and Vietnam.

Brexit was not mentioned as a factor behind the purchase.

Silver Hill Foods owner Stuart Steele said: "Keeping the business in Irish control and based in Emyvale was an intrinsic part of the negotiations and subsequent sale.

"Silver Hill Foods has attracted the interest of many potential overseas buyers over the years, particularly from the UK, Europe and even Asia."

Trevor Lockhart, Fane Valley Group chief executive, said: "Fane Valley is committed to future investment in production facilities on the Emyvale site to enable Silver Hill to meet growing demand, particularly in Asian markets including new areas such as Malaysia, Indonesia and Vietnam. We are excited by the growth prospects and the opportunities this will present for all stakeholders in the business."

Belfast Telegraph