Farmers Approve Alliance Deal With Dawn Meats
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Farmer-shareholders of meat processor Alliance Group have voted to approve a major new partnership with Irish red meat company Dawn Meats. The $270 million joint venture will see Dawn Meats acquire a 65 percent share of the co-operative, with the remaining 35 percent staying under farmer control.
Voting closed on Monday following a special shareholder meeting in Invercargill. Of the 2,675 shareholders who cast their votes—representing over 88 percent of shares on issue—more than 87 percent supported the deal, meeting the threshold required under the Takeovers Code.
Alliance Group chair Mark Wynne said, “Our farmer-shareholders have given a clear mandate for Alliance to move forward in partnership with Dawn Meats. This is a vote of trust in our people, our operations and our vision.”
The investment will allow Alliance to repay its working capital, strengthen its balance sheet, and improve operational performance. Wynne added, “This essential investment will strengthen our financial position, enhance our operational capability and enable us to capture more value in market for our farmers and the country. Importantly, the agreement also preserves farmer ownership, with a continuing 35 percent shareholding and strong governance rights.”
Wynne said the agreement follows a detailed two-year effort to reset and re-capitalise the business. The board explored multiple options before concluding the Dawn Meats offer was the most strategic and financially sound. Independent adviser Northington Partners backed the decision.
“By combining Alliance’s lamb expertise and global reach with Dawn Meats’ strength in beef and market access across Europe and the UK, we unlock significant commercial and operational synergies,” Wynne explained. “This partnership gives our farmer-shareholders the opportunity to see the value of their residual 35 percent stake grow over the long term.”
Dawn Meats CEO Niall Browne said the company was excited to work with Alliance, calling it a “world-class company that shares our values, ambition and commitment.”
Dawn Meats was founded in Ireland in the 1980s and now processes 3.5 million sheep and one million cattle annually, supplied by 40,000 farmers. The company has a turnover of €3 billion (NZ$5.8 billion) and operates 24 processing sites across Ireland and the United Kingdom. It has expanded significantly in recent years, acquiring Kildare Chilling Company in 2024 and taking full control of Dunbia in 2020.
The joint venture is expected to boost Alliance’s growth while retaining its strong farmer-led identity.