Primark owner Associated British Foods has struck a deal to buy dairy technology firm National Milk Records (NMR) for £48m.
AB Foods, which also has major sugar, foods and ingredients businesses, said the deal would boost its agriculture-food arm AB Agri, which works with over 2,000 UK dairy farms as part of its global operations.
Founded in 1943, NMR - which has its head office in Wiltshire - provides milk and cow health testing and data services for farmers and milk buyers, as well as third parties such as vets and breed societies.
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Bosses at the Chippenham-based company, which also has bases in Harrogate, Wolverhampton and Glasgow, said the agreement would provide “significant benefit” to its customers.
NMR chairman Trevor Lloyd, said: "As the UK dairy supply chain continues its drive to carbon neutrality, NMR's work with GenoCells and milk data, and our pivotal role in payment testing, will contribute important information to aid in this transition. The backing of ABF will accelerate and de-risk NMR's ability to deliver its strategic objectives, streamlining industry processes by creating a holistic business that can provide end-to-end data and analysis to ensure the long term sustainability, efficiency and profitability of UK dairy."
AB Agri operates across 80 countries and employs more than 3,00 staff. It supplies animal feed, supplements and specialist ingredients, as well as services and expertise to farmers, feed and food manufacturers and retailers,
AB Foods said adding National Milk Record’s expertise would help its agriculture arm to deliver a “better service to the dairy industry, initially in the UK, offering products that deliver increased value, efficiency and ultimately profitability for farmers”.
Jose Nobre, chief executive of AB Agri, said: “We have supported dairy farmers for more than 30 years with nutrition and specialty feed products, and more recently with data and technology platforms which deliver insights that create continuous improvement in agricultural supply chains.
“Acquiring NMR is an extension of this strategy and will enable us to service the industry better, offering products that deliver increased value, efficiency and ultimately profitability for dairy farmers.”
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