Hanley heads up Glanbia pigmeat buyout group

Rooskey native Jim Hanley is this week heading up a management team at Glanbia Meats which bought out the company’s Irish pigmeat activities. For many years the Hanley family was associated with the pig processing industry from their factory at Rooskey, which was subsequently purchased by Glanbia plc. This week Glanbia announced that it has completed the sale of its Irish pigmeat business to a team led by Jim Hanley, Chief Executive of the business in conjunction with Niall Leydon, Head of Operations, Michael Slevin, Head of Human Resources, and Andy Fleming, Head of Strategy and Finance. The business is to operate under the name Rosderra Irish Meats Group. The total consideration received by Glanbia for the business (including insurance proceeds for the destroyed assets) will amount to €35 million. An exceptional loss of €20.5 million will be recorded in the 2007 financial statements of the Group relating to the exit from pigmeat activities, inclusive of the sale of the Rooskey cannery site. For the past year or more Glanbia has been reviewing the strategic options for the business. The business now plans to focus on key growth areas of cheese and nutritional ingredients and the proceeds from this transaction will be invested in those areas. Commenting, Jim Hanley of Rosderra Meats said: ‘We are delighted with the prospect of taking over this well-established business. Recognising the challenges inherent in the business, we are confident that with a committed workforce, combined with focused management, existing and new customers as well as our loyal suppliers, we can grow the business.’ ‘We are very pleased to have reached agreement with the management team led by Jim Hanley, who are very experienced in the meats industry and are committed to developing the business further. I would like to take this opportunity to thank the highly skilled staff of Glanbia Meats – some of whom have worked with Glanbia for many years – for their dedication and commitment to the Group,’ said Glanbia Group Managing Director, John Moloney.