IDB, which is best known for its Kerry Gold dairy brand, believes the acquisition will strengthen its position in the UK food ingredients and food service sector – a key area for Irish dairy exports.
The Cheese Warehouse, which manufactures a range of cheese ingredient solutions for both the food service and food manufacturing sector, recorded turnover of around €38m for the year ended 29 February 2012.
“This acquisition is consistent with our strategy to develop and enhance routes to market for value-added Irish dairy products. The Cheese Warehouse complements our existing cheese ingredients business located close by in the UK and will significantly increase our presence in the UK cheese ingredients and food service sectors,” said IDB CEO Kevin Lane.
More to follow……