VICTORIAN small stock processor Cedar Meats has been sold to a new entity after the failed acquisition by Global Meat Exports, an AustAgri Group Limited subsidiary.
Cedar United Abattoirs Pty Ltd acquired of Cedar Meats Australia on 30 January 2024 and will continue the west Melbourne plant’s operations with Tony Kairouz as chief operating officer.
Cedar Meats was advertised for sale early last year due to the Kairouz family being unable to finalise a purchase deal with Global Meat Exports Pty Ltd. The GME deal to transition the Brooklyn-based sheep, lamb, veal and goat processor into a $300 million ‘paddock-to-plate’ conglomerate with intentions to list on the Australian Stock Exchange was first announced in October 2021.
CUA today said it is looking to build upon the foundations laid down by the Kairouz family over 40 years ago, growing a family butcher shop in Northcote in 1984 to a fully integrated meat export facility processing up to 300 tonnes of meat per day.
Cedar Meats is a small stock specialist that is licensed to export throughout the world and employs more than 300 people at its Brooklyn facility, processing lambs, sheep, calves and goats.
CUA said it sees significant opportunities to grow the business through increased penetration into existing international markets, as well as a new focus on domestic sales growth.
Mr Kairouz said he is looking forward to working with CUA to take the business to the next level.
“We welcome CUA’s corporate expertise and financial resources to help Cedar Meats achieve its full potential under the existing operational team.
“This is an exciting time for all of us and I am proud to be able to continue to operate our family business.”
The Cedar Meats business was purchased from William Buck, Chartered Accountants, Receivers and Managers of Global Meat Exports Pty Ltd (Receivers and Managers Appointed) (“GME”). GME is subject to a winding up application in the Supreme Court of Victoria. That application will have no impact on the sale of the Cedar Meats business.