Ex-Wattie chief leads Medallion buy-out

WELLINGTON - Former Heinz-Wattie chief executive David Irving is leading a buy-out of Medallion Foods, the Hawkes Bay-based ham, bacon and petfood company.

Mr Irving, who is joined in the deal by Medallion chief executive Darryl Taylor and some North Island investors, said there were "exciting growth opportunities" for the company which had an annual turnover of $25 million.

"Over time our aim will be to build on the achievements of former owner Rodney Green who, over 20 years, grew the company from a local supplier into a national market leader," Mr Irving said.

Mr Irving, Medallion's chairman and a professor at Auckland University, said it would be "business as usual" in the meantime for the company's 200 staff and 3500 customers around the country. - NZPA