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Carton Family Sell Remaining Stake In Manor Farm

Published on Feb 22 2021 8:29 AM in Fresh Produce tagged: Featured Post / chicken / Manor Farm / Scandi Standard

Carton Family Sell Remaining Stake In Manor Farm

The Carton family has sold its remaining shares in chicken processing company Manor Farm.

The family sold the company in 2017 to Scandi Standard for €70 million, half in cash and half in shares.

Themvar Eight

Themvar Eight Unlimited Company, of which the ultimate owners are Vincent and Justin Carton,  announced last week that it was divesting is six million shares in Scandi Standard at SEK 60.50 per share, representing a discount of approx. 6% to the closing price the same day.

Themvar Eight said reasons of liquidity and diversification were behind the sale of its shares to Scandi Standard.

Vincent Carton, ex-owner of Manor Farm, is serving as a director in Scandi Standard and oversaw the integration of the Irish company into the Scandi Standard group since the Irish processing firm was purchased in 2017.

'Strong Contribution'

In a statement, the chairman of Scandi Standard, Per Harkjær, thanked the Carton family for “their strong contribution to successfully integrating Manor Farm into Scandi Standard."

Harkjær praised the family's involvement in increasing the profitability of Manor Farm as it "moved towards a European best in class performance on several key ESG parameters."

Harkjær also worked alongside Vincent Carton on the board of Sandi Standard, mentioning the Irish businessman's "insightful and direct style."

© 2021 Checkout – your source for the latest Irish retail news. Article by Conor Farrelly. Click sign up to subscribe to Checkout.

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