10 April 1998

Dalgety moves

DALGETY Agriculture continues to streamline its milling business. South Holland feed mill at Spalding, bought by Dalgety as part of the Oldacres package in 1993, is to close at the end of June.

The closure was forced by a looming £750,000 spend to maintain hygiene and environmental standards.

&#8226 Following a £675m cash distribution to shareholders, Dalgety ceases to be a quoted company. It will be taken over by a new holding company ahead of an expected management buyout of the Dalgety Agriculture subsidiary, thought to be worth £40-50m. &#42