Associated British Foods (ABF) has agreed on a deal to buy dairy technology company National Milk Records (NMR) for £48m to boost its agri-food unit.
ABF stated that NMR’s expertise in the dairy industry would help it grow its agriculture business, adding data and technology platforms which help farmers become more profitable.
José Nobre, Chief Executive of AB Agri, said: “NMR is a high-quality business which is extremely complementary and additive to our dairy strategy and offering to the dairy industry. We have supported dairy farmers for more than 30 years with nutrition and specialty feed products, and more recently with data and technology platforms which deliver insights that create continuous improvement in agricultural supply chains.
“Acquiring NMR is an extension of this strategy and will enable us to service the industry better, offering products that deliver increased value, efficiency and ultimately profitability for dairy farmers. NMR has assembled a strong team and we are excited by the prospect of working together with them to accelerate the development of the business.”
