ANM Backs Management Buy Out at Yorkshire Premier20 November 2012
UK - The Board of ANM Group is to support a Management Buy In (MBI) of beef and lamb procesor Yorkshire Premier Meats, having considered all offers for the company and recognising the stabilising of the business which has now been achieved.
The companmy said this new partnership demonstrates the MBI team’s confidence in the business and is backed by the on-going support of ANM Group.
The MBI team comprises the experienced industry combination of Jim Jaffray, currently the Managing Director of the ANM Group Meat Division, and Keith McCall, the ANM Group Finance Director.
Mr Jaffray and Mr McCall, along with Pat Machray OBE, the ANM Group Chief Executive, have been responsible for the highly successful turnaround and restructuring of ANM’s Meat Division to date, and have more than 40-years of industry experience between them.
The Yorkshire Premier Meats business has, in the course of 2012, been returned to a position of breakeven trading and is enjoying good trading relationships with its main suppliers and customers.
The proposal has received the unanimous support of the ANM Board, and the MBI team, with ANM Group backing, will now move on to finalise funding and other steps required prior to completion within the next month or so.
TheCattleSite News Desk