The Donegal Investment Group has sold its feed and shipping business for €17.25 million.
Fane Vally co-op has purchased both Smyths Daleside Animal Feeds in Ballindrait and Burke Shipping, Lisahally Port.
Its reported that the proceeds of the sale will be used by the Donegal Investment Group for general corporate purposes.
Donegal Investment Group say they will continue to support the growth plans of its Nomadic business as well as continuing the strategic review of the remaining businesses and assets with the objective of maximising value for all shareholders.
Eoin Lowry, Agri Business Editor with the Irish Farmers Journal says it will be business as normal: