ABP Food Group has completed a £24.5m (€28.5m) investment opportunity in Scotland. It is our Company of the Month May 2024, in association with KPMG.
APB Food Group, the privately-owned food processor, has completed a significant investment opportunity of £24.5m (€28.5m) in Scotland.
The investment centres on its beef processing facility in Perth, which includes a 2,800 square metre extension, refurbishment of facilities, and expanded areas for storage and staff.
ABP has three sites in Scotland in total, with others located at Bridge of Allan and Queenslie near Glasgow
APB has said the new development will generate 80 new jobs, with 42 jobs generated for the development process. The company currently employs 836 people in Scotland.
Bob Carnell, Managing Director of ABP’s UK Division, said the site “will play a significant role as we develop further opportunities for Scottish red meat products in the retail and food service sectors throughout Scotland, across the UK and in export markets.”
History
The business was founded by Larry Goodman in 1954. By the 1960s, it had acquired Anglo Irish Meats as well as various factories in Ireland.
Goodman also expanded operations into Europe and Russia. When Iraq invaded Kuwait in the 1990s, the Iraqi government defaulted on hundreds of millions in credit and special legislation had to be passed to protect the Goodman business due to its importance to the Irish economy. The company had an examiner appointed.
By 1995 with the help of private backers, Goodman had reassumed control of the business and by 1999 he had paid them off and assumed full control.
Business & Finance, Company of the Month
