Dalgety directors complete buyout

26 May 1998

Dalgety directors complete buyout

By FWi staff

SIX Dalgety managers have fulfilled their dream of taking over Dalgety Agriculture.

The management buy-out of Dalgety Agriculture, from the parent company Dalgety PLC for £50 million, was completed on Friday (22 May).

The parent companys shareholders, at an extraordinary meeting last week, approved their boards recommendation that the offer by the six be accepted.

Dalgety Agricultures former chief executive Paul Kirk will become executive chairman of the new business, while Tony Taylor takes over the post of managing director.

The new independent company, which will continue to trade under the Dalgety name, will be divided into four sectors including: arable; dairy, beef and sheep; pig and poultry; and horse and speciality. The buyout was funded by the NatWest Group.