Ireland’s largest exporter of Irish dairy products, Ornua has signed an agreement to acquire F.J. Need (Foods) Limited, the Cheshire-based cheese ingredients company.
The acquisition is central to Ornua’s strategy of further strengthening its core businesses in Germany, North America and the UK.
The F.J. Need acquisition will be the latest in a series of significant investments by Ornua, targeting new routes to market for Irish dairy products. The last two years has seen Ornua invest in acquisitions and significant capital expenditure in Africa, China, Germany, Ireland, Saudi Arabia, Spain, the UK and the US.
It comes soon after the recent acquisition of US powder ingredient business CoreFX.
Commenting on the deal, CEO of Ornua, Kevin Lane said, "This acquisition will be another important milestone in Ornua’s growth as a global supplier of quality dairy products. We are buying an excellent family dairy business which allows us to significantly strengthen our presence in the UK ingredients sector."
He added, "The complementary nature of our customer bases and the potential to further scale the business makes this a strong fit for Ornua. We are looking forward to working with Paul and Tracey Need to grow the business in the coming years."
Source: www.businessworld.ie
