The Australian Lamb Company, which owns Colac’s meat processing plant, has sold to a Saudi and Brazilian joint venture company.
The Saudi Agricultural and Livestock Investment and Minerva Foods announced they had bought 100 per cent of the shares in ALC, through their joint venture Minerva Foods Australia.
ALC owns sites in Colac and Melbourne, with the Colac site being one of Colac’s major employers, and exports lamb to more than 70 counties.
Australian Lamb Company general manager Darren Verrall welcomed the sale.
“It is a very exciting time for both companies.”
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Where To Buy“To bring together the wealth of knowledge, experience and contacts that both businesses possess will be an excellent foundation for growth into the future.”
Minerva Foods Australia also owns two meat processing facilities in Western Australia.
Parent company Minerva Foods has more than 27 slaughterhouses globally and exports red meat to more than 100 countries.
See Monday’s Colac Herald for more.