Origin Enterprises has reached a deal with W&R Barnett to establish an all-Ireland grain and feed handling, logistics and trading business.
The new all-Ireland business will be formed through the integration of Origin's R&H Hall business in the Republic and the business of Origin and Barnett in Northern Ireland.
Under the terms of the deal, Barnett will buy a 50% interest in Hall, which the company says mirrors the economic interests of Origin and Barnett in the Northern Ireland business. Hall reported operating profits of €5.1m for the year ending July 2010 and revenues of €302m.
The deal is still subject to a number of conditions including clearance from the Irish Competition Authority.
'The transaction, which further the strategic development of Origin's feed interests, builds upon our long and successfully partnership with Barnett and brings together two highly complementary businesses with a shared vision and strong commitment to the Irish grain and feed industry,' commented Origin's chief executive Tom O'Mahony.
