Ridley Corporation will acquire Oceania Meat Processors, a mechanically deboned meat frozen block product producer, for NZ$57.0 million (~$52.8 million).
The acquisition aligns with Ridley's Ingredient recovery growth strategy and enhances the company's offerings to pet food customers.
The transaction is expected to be completed in March 2024 and will be fully funded from debt facilities.
Established in 2002, OMP supplies premium inputs globally, with operations in Melbourne, Australia, and Timaru, New Zealand.