Ridley's (ASX:RIC) Ridley Agriproducts unit entered an asset sale agreement with poultry producer Baiada to sell the Wasleys feedmill for AU$22 million, according to a Wednesday filing with the Australian bourse.

The sale is expected to be completed by June 30, and Ridley expects a net gain of about AU$4 million in fiscal 2025 after transaction and restructuring costs, the filing said.

Shares of the company fell nearly 1% in recent Wednesday trade.