TasFoods acquired Redbank Poultry, a chicken broiler and breeder facility in North-West Tasmania, through its subsidiary Nichols Hatchery.
Redbank is the exclusive supplier of day-old chicks to Nichols Poultry.
The acquisition is expected to contribute approximately $800,000 in annual EBITDA once fully integrated.
The purchase includes a $1.3 million deal for plant and equipment, associated assets, and a $1.1 million inventory valuation at completion.
TasFoods plans to utilise funds from the Betta Milk/Meander Valley Dairy sale, supplemented by a short-term financing agreement with Roadnight Capital private debt fund.