Glen of Aherlow Holdings, the former co-operative, has sold its 200ac Tipperary farm and pig production unit.
Cork auctioneer Matt Fallon of Property Partners confirmed the sale by private treaty has been completed, following interest from a number of parties. The entire property had been sold to one vendor, he further confirmed.
It is being reported locally that Rosderra has bought not only the extensive pig-fattening unit, but also the dairy farm located adjacent to it.
It’s understood that Rosderra took over the management of the pig unit last Monday. It’s a modern farm, with most of the buildings less than 20 years old.
The dairy farm was being advertised with a guide price of €2.2m.
The two individuals hold around 10% of the 356,000 shares
The Glen of Aherlow co-op was originally formed by a group of pig producers to finish the weaned pigs from the sows on the shareholders’ farms.
The model changed over time with an in-house sow unit developed, as the number of shareholders supplying pigs declined over time. The company also processed pigmeat.
About 10 years ago, the co-op evolved into a private company. Company records show 147 shareholders, of which the largest shareholders are Pat Walsh, the CEO, fellow company employee and director Bartley Burke and Dairygold co-op. The two individuals hold around 10% of the 356,000 shares, while Dairygold holds just under 30,000 shares.
With most of its assets now sold, it’s unknown if Glen of Aherlow Holdings intends to re-invest in another enterprise, or whether dissolution of the company is on the cards.