THE European Commission has paved the way for Larry Goodman’s ABP Group to acquire the Allen family’s 50% multi-million euro stake in Slaney Foods, rejecting suggestions that the proposed merger would infringe competition laws.

ABP and the other shareholder in Slaney, the Northern Ireland co-op Fane Valley, have been pursuing this venture since the end of last year.

Bert Allen, father of Ireland’s top ranked world show jumper, Bertram Allen, is retiring from the red meat processing business after some 50 years to concentrate on wider business interests. The proposed deal will see ABP control 30% of Ireland’s cattle kill and 40% of the country’s lamb kill. The European Commission’s decision was revealed by the Irish Farmers Journal yesterday morning following an investigation under the EU Merger Regulation.