Irish Dairy Board completes post-quota preparations with Ornua rebrand
Dublin-based IDB, the Irish cooperative behind the Kerrygold brand, was rebranded as Ornua today on the eve of the European Union (EU) quota system abolition.
Ornua is derived from 'Ór Nua', which means 'New Gold' in Irish (Gaelige).
For the last five years, the Irish dairy has been "transforming" its business ahead of the removal of EU milk quotas.
The quota system, introduced in 1984 to address the issue of oversupply, ends today with the close of the 2014/15 season.
Milk production in Ireland is subsequently expected to increase around 50% by 2020.
The transformation from IDB to Ornua "marks the next step in its exciting journey," the company said.
"Our business has been steadily building infrastructure to ready itself for the opportunities post quota will bring," said Kevin Lane, CEO, Ornua.
"A business with such reinvigorated ambition needs an identity that is fit for a very bring future."
"We now complete our preparation, by unveiling an identity which not only reflects our position as a modern customer and consumer-facing business but one which acknowledges and celebrates our proud dairy heritage," Lane added.
This is the second time in 54 years the company has changed its name.
It was established as An Bord Bianne, which translates as 'The Milk Board', by the Irish Government in 1961.
Three decades on, in 1994, it was renamed the Irish Dairy Board.
In December 2014, it confirmed a process had begun to change its name to Ornua.
Supplier members voted in favour of swapping Irish Dairy Board Cooperative for Ornua Cooperative in February 2015.