LONDON, June 6 (Reuters) – Related British Meals (ABF.L), the proprietor of Primark and main sugar, meals and substances companies, stated it might purchase dairy know-how firm Nationwide Milk Data <NMRP.ASE> for 48 million kilos ($59.7 million) to spice up its agri-food unit.
Whereas it’s best recognized for the worth vogue retailer Primark which makes up nearly half of its 17 billion kilos of income, AB Meals can be one of many largest UK meals producers and operates one of many nation’s largest animal feed companies.
AB Meals stated on Tuesday that NMR’s experience within the dairy trade would assist develop its agriculture enterprise, including information and know-how platforms which assist farmers change into extra worthwhile, initially in Britain.
“NMR is a high-quality enterprise which is extraordinarily complementary and additive to our dairy technique and providing to the dairy trade,” stated Jose Nobre, head of AB Meals’ AB Agri unit.
NMR’s board has advisable ABF’s 215 pence per share money supply and AB Meals stated in its assertion that it had already acquired backing for the deal from traders holding about 69% of shares, near the 75% threshold wanted to approve the deal.
The deal is anticipated to be accomplished throughout the third quarter.
($1 = 0.8035 kilos)
Reporting by Sarah Younger; Modifying by Kate Holton and James Davey
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