Global exposure from World Cup could boost Moy Park if it floats
Parent company said a partial floatation on cards for Armagh-based poultry producer
Moy Park is best-known in Ireland for selling fresh meats under its own name as well as under brands including Jamie Oliver. Photograph: Alan Betson / THE IRISH TIMES
The sponsorship deal has been set up by Brazilian parent company Marfrig and will see the Moy Park brand beamed to hundreds of millions of viewers across the globe on pitch perimeter boards during matches.
Football’s World Cup is among the most watched sporting events on the planet and the global exposure could come in handy, as a partial flotation is potentially on the cards for the Armagh-based food processing group this year.
Marfrig recently said it was examining selling stakes in Moy Park and US-based Keystone Foods so that it could pay down debt.The group has hired banks to advise on a possible sale.
Marfrig has estimated that it would reduce net debt to 2.7 times earnings before interest, taxes, depreciation and amortisation by the end of 2015 by selling 25 per cent to 30 per cent stakes in Moy Park and Keystone.
Moy Park is best-known in Ireland for selling fresh meats under its own name as well as under brands including Jamie Oliver. The business also contributed some €1.5 billion to the Marfrig’s group sales last year.
Marfrig recently announced the appointment of Vincent Gaillard as global co-ordinator of its 2014 World Cup activities.
He previously managed Coca-Cola’s activities at the 1998, 2002 and 2006 World Cup tournaments as well as at the Beijing and London Olympics.