Ailing Irish poultry processor acquired by Derby Poultry

More than 150 poultry jobs could now be saved at Cappoquin Chickens in Co Waterford after the liquidator confirmed the sale of the processing plant to a British-led consortium, according to reports in the Irish Times at the weekend.

The 50-year-old Irish poultry processor went into liquidation on 2 September with debts of €7-8m (£5.6-6.4m) and the jobs of 250 staff in doubt.

Deloitte confirmed that two private investors who own Derby Poultry in the UK, had taken majority stakes in a newly-formed company set up to take over the plant.

The two investors have experience of halal chicken production and it is understood that the new company will focus on this sector for export to the UK while continuing with chicken processing for the Irish market.

Reacting to the news, IFA National Poultry Committee chairman and a supplier to the plant, Ned Morrissey, said producers would be seeking an early meeting with the new owners to discuss the terms of a new contract.

Mr Morrissey said chicken growers would need concrete reassurances from the new management about the price that will be paid to producers.

He said growers have suffered losses in the past and will only enter into a new arrangement if there is a viable margin for them.