IRELAND/BELGIUM: IDB to sell Belgian cheese subsidiary

By Michelle Russell | 12 June 2012

IDB said proceeds from the sale will be invested in "furthering the groups strategic growth plans"

IDB said proceeds from the sale will be invested in "furthering the group's strategic growth plans"

The Irish Dairy Board (IDB) is to sell its Belgian continental cheese packing operation to FrieslandCampina.

The transaction, announced yesterday (11 June) for an undisclosed sum, is expected to complete by the end of July.

IDB said proceeds from the sale will be invested in "furthering the group's strategic growth plans" and in international acquisition prospects.

"The sale of our continental cheese packing business to Royal FrieslandCampina is another significant strategic step for IDB," said IDB CEO Kevin Lane. "The divestment will unlock additional capital to develop more focused routes to market for Irish product at a time when IDB Belgium's future potential can best be realised with the support of a local dairy partner. Royal FrieslandCampina can bring greater synergy benefits to the Belgian business as well as presenting partnership opportunities with IDB in the future."

IDB's Belgian operations from Genk and had turnover of around EUR100m (US$125.1m) in 2011.

The transaction is subject to regulatory approval.

Sectors: Dairy, Mergers & acquisitions

Companies: FrieslandCampina, The Irish Dairy Board

View next/previous articles

Currently reading -

IRELAND/BELGIUM: IDB to sell Belgian cheese subsidiary

There are currently no comments on this article

Be the first to comment on this article

Related research

Competitive Landscape of the Hungarian Foodservice Industry: Market Profile to 2016

This report presents profiles of leading foodservice companies in Hungary. Details of the top companies active across the Hungarian foodservice industry are provided, together with the company’s major products and service and SWOT analysis (where app...

Key Players in the Global Functional Foods Industry - 4th Edition

Despite fairly static growth levels within the global functional foods industry, levels of corporate and new product activity remain high. With most of the world’s leading food groups continuing to focus upon improving the health and nutritional qual...

Related articles

Quote, unquote: just-food's week in words

Tesco's decision to potentially exit the US market shared the headlines with Intersnack's acquisition of United Biscuit's salty snacks unit. just-food spoke with Intersnack's MD Bernd ter Glane about the deal. Elsewhere, just-food spoke with FrieslandCampina's boss Cees Ruijgrok and the chief executive of Nestle's operations in equatorial Africa, Ian Donald.

just the answer - FrieslandCampina export boss Cees Ruijgrok

Dutch dairy giant FrieslandCampina has just reorganised its export operations. Cees Ruijgrok is overseeing a more integrated export effort to build on the overseas businesses Friesland Foods and Campina had before their 2008 merger. Dean Best spoke to Ruijgrok about the company's export ambitions.

EUROPE: Irish Dairy Board secures Tesco butter contract

Irish co-op The Irish Dairy Board is to supply own-label butter to Tesco stores in four markets in central and eastern Europe.

Welcome to the home of food information, insight & intelligence

Not a member? Join here

Decrease font sizeDecrease font sizeDecrease font size Increase font sizeIncrease font sizeIncrease font size Comment on this article Email this to a friend Print this page