Keenan’s, synonymous with introducing the mixer wagon diet feeder to Ireland, is understood to be in advanced talks regarding a potential sale of the company. The Irish Farmers Journal broke the story on Tuesday on www.farmersjournal.ie

Keenan’s, a family owned company founded by the late Richard Keenan in 1978 and whose son Gerard is the current CEO, employs approximately 200 people at its base in Borris, Co Carlow.

While the company has not announced anything officially, the Irish Farmers Journal understands that advanced negotiations with a prospective buyer have taken place this week.

It had been rumored that the company was in financial difficulty and needed a cash injection. In recent months, it is understood Keenan’s was in talks with groups of investors to secure the company’s future.

It has now emerged that a “well known international feed company” may be in the running to buy the Co Carlow-based manufacturer.

Although nothing is confirmed, among the names speculated to be interested in buying the company include Alltech, which has been on a spending spree over the past 12 months acquiring feed mill businesses in the US and Canada.

Privately owned by Pearse Lyons, Alltech has more than doubled its sales in the last four years to over €2bn. Internationally, it has been integrating its business, becoming more focused on direct sales to farmers.

The last accounts filed by Keenan’s are for 2013 and show the group recorded pre-tax profits of €1m on sales of €42m. A year previously, the group had made a €1.5m loss from sales of €40m.

Keenan’s built its first mixer wagon in 1983 and at its peak, manufactured 2,500 machines per year.

Although it is early stages, it is hoped that any buyer would continue to manufacture mixer wagons from the base in Borris.