Wednesday, September 03 12:40:36
The Irish Dairy Board Cooperative (IDB) today said it has acquired Telepizza subsidiary, Luxtor S.A., a Spanish pizza cheese and cheese blends plant for an undisclosed sum.
The deal includes Luxtor's long term contract for the supply of cheese to Telepizza, the fifth largest pizza chain in the world.
The acquisition was made via the newly established entity, Irish Dairy Board Espana, S.L.
The acquisition strengthens IDB's position as a global provider of cheese to the Quick Service Restaurant (QSR) and Food Service sectors and complements similar investments made in US and UK customised cheese solution businesses. It will also provide an immediate route to market for Irish dairy products and opens up further opportunities for Irish dairy products post milk quota removal in 2015.
Welcoming the announcement that is in-line with IDB's growth strategy to invest in milk deficit regions, Kevin Lane, CEO of the Irish Dairy Board said: ''In-line with our growth plans to make a strategic investment in Southern Europe, a milk deficit region, we are very pleased IDB Espana has acquired the trade and assets of Luxtor. IDB Espana will provide expert cheese solutions for the pizza sector that complement the cheese solution technologies we continue to develop in our other international businesses. Its central location will provide a trading and sales hub to service our growing Southern Europe customer base. And importantly for Irish farmers, it will be an immediate route to market for Irish dairy products with further growth post 2015."
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