Food group IAWS said it plans to set up a new operating company, Origin Enterprises, to run its core agriculture and non-lifestyle foods businesses.
It said the purpose of the initiative is to 'provide additional momentum to these businesses and to facilitate development.
'The focus of Origin will be to enhance shareholder return through a combination of organic and new investment opportunities,' IAWS added.
IAWS said Origin would have the benefit of a substantial operating asset base including a number of significant properties with development potential located in areas destined for future development and regeneration.
'The objective will be to add value to these properties over time in order to maximise their potential,' it said.
Origin Agribusiness will include IAWS's Agri Inputs division, which covers feed ingredients, fertiliser blending and agricultural supplies, and Marine Proteins and Oils. Origin Food will include the business of Shamrock Foods and the IAWS' 50% interest in Odlum Group Milling.
IAWS will establish a separate Origin board as part of the restructuring, with its Chief Operating Officer Tom O'Mahony, becoming chief executive of Origin.
IAWS shares were up 35 cent to €17.60 in Dublin this evening.
