September 12, 2007

Buyers, mergers wanted for Australia's Tasman Group

The Tasman Group--Australia's biggest multi-species livestock processor-- is on the market.

The company owns three abattoirs in Tasmania and three in Victoria and processes more than 2 million sheep and 600,000 head of cattle each year.

The firm's owners -- who are in their sixties -- are keen to sell, or at least merge to give the company more national coverage, according to the company's corporate financier David Williams.

Williams, who is also handling the sale, says there is keen international interest to purchase or to merge their respective companies with the firm.

Tasman's decision to look for partners or buyers is due to Australia's downsizing of the meat industry for ten years, he said.