I see well-known Wexford man Bert Allen is busy spending the proceeds from the 50% stake he sold in Slaney Foods to Larry Goodman’s ABP Food Group last year.

Allen’s company, Lanber Holdings, is the 60% majority shareholder in a consortium that completed a deal last week to purchase the old Irish Fertiliser Industries (IFI) site at Marino Point, near Cobh, Co Cork.

While no sale price for the strategic site was disclosed, a price around €7m is believed to have been paid by Allen and his consortium partners, Port of Cork.

The initial plan for the site is to begin importing fertiliser and animal feeds.

The 114ac site is well known to many in farming circles and has lain idle since 2002 but now looks set for a new lease of life.