Wednesday, July 30 12:19:23
The Irish Dairy Board today said that its wholly owned subsidiary Adams Food Ingredients Limited (AFI) has acquired the business and assets of FoodTec UK, a specialist ingredients business, from Dairy Crest for stg1.2 million.
AFI, located in Leek, is a food ingredient powder blending business which specialises in sourcing, formulating, blending and packing food ingredients for UK food manufacturers and nutrition brands.
Commenting on the announcement, Joe Collins, Managing Director of the Irish Dairy Board Dairy Trading and Ingredients division said: 'The FoodTec acquisition presents exciting opportunities to grow both the AFI and FoodTec businesses in collaboration with both existing and new customers across new products, technologies and processes. The acquisition is also in-line with IDB's strategy to invest in growth dairy businesses that deliver strong returns to our members, Ireland's dairy processors and Irish dairy farmers."
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