Dawn Meats close in on Alliance Group acquisition 

Waterford-based Dawn Meats has edged further in its €132 million acquisition of Alliance Group, a New Zealand meat processing co-op.

Dawn Meats, a red meat processing company founded in Kilmacthomas, is now set to control 65% of Alliance Group. Alliance Group’s farmers and shareholders will control the remaining stakes.

Of the 2,765 shareholders in Alliance Group that voted on Monday evening, 87% approved Dawn Meat’s acquisition. 

Dawn Meats Chief Executive, Niall Browne hailed Alliance Group as “a world-class company that shares our values, ambition and commitment."

“We believe this joint venture with Alliance will assist in further growing and developing what is an excellent New Zealand business with a proud legacy of processing and exporting the highest-quality grass-fed lamb, beef and venison,” Mr Browne said.

“Dawn Meats already has a strong operations network in Ireland, the UK and in the EU. Having the ability to now grow in partnership with some of New Zealand’s leading farmers and create a year-round supply for our customers between the Northern and Southern Hemispheres is a fantastic opportunity and one our customers are already responding to.” 

Alliance Group recorded a post-tax loss of NZ$95.8 million (approximately €47 million) in 2024.

Mark Wynne, Chair of the Alliance Group, said Dawn Meats stood as the best option to secure Alliance’s future. 

Last week, a group of shareholders presented an alternative business pitch to Wynne with hopes of preserving Alliance’s 100% farmer-owned status.

Mr Wynne continued to back Dawn Meats.

“We’re really excited about the potential for this partnership and what the future holds for Alliance and Dawn,” he said.

“This essential investment will strengthen our financial position, enhance our operational capability and enable us to capture more value in market for our farmers and the country. "Importantly, the agreement also preserves farmer ownership, with a continuing 35 per cent shareholding and strong governance rights.

"I want to thank shareholders for their trust and confidence, and the Alliance team for achieving a remarkable turnaround. The future looks much brighter than it did 12 months ago. We’re looking forward to getting down to work.” 

NZ$200 million of Dawn’s investment is planned to shore up short-term financing. 

Another NZ$25 million will be distributed as a dividend to the Co-Op following positive projected returns for the current fiscal year.