IRELAND: The Irish Dairy Board invests in butter production, R&D
Kerrygold accounts for over half of branded butter sales in Germany, the IDB claims
The Irish Dairy Board is to spend EUR30m on butter production and R&D at a site in its domestic market.
The Kerrygold owner said the production and packaging facility in Mitchelstown in County Cork would create 50 jobs.
The site will have a capacity of 50,000 tonnes and serve as an "innovation centre" for the Kerrygold brand, the largest butter brand in Germany.
With the end of EU milk quotas on the horizon in 2015, the IDB said it has "ambitious expansion plans" for the business.
News of the investment came as the IDB reported its financial results for 2013, which included higher sales and improved pre-tax profits.
The co-operative said Kerrygold had enjoyed "record sales". It has a 17% share of Germany's butter category and is the number one imported butter in the US.
"The marketing and selling of Irish dairy products across global markets has never been more important. With the recent announcement of the extension of the Group’s financing facility to 2019, and plans now in place to build a fully integrated, state-of-the-art Kerrygold butter production and packing facility in Cork, the IDB continues to prepare the business for the exceptional opportunities the post quota environment will bring," the IDB said.
Last month, the IDB said a new refinancing deal would help fund expansion, including possible acquisitions.
Canadean's "Irish Dairy Board Co-operative Limited: Consumer Packaged Goods - Company Profile & SWOT Report" contains in depth information and data about the company and its operations. The profile co...
The report provides a review of the mergers and acquisitions (M&As), partnering deals, and agreements entered into by companies active in the global prepared meals market during September 2014....
Synopsis Using this report, marketers will effectively gain an insight into the latest happenings in the global dairy food market throughout the month. The monthly report provides the reader with the...
- How brands are eyeing their own retail presence
- Why Lactalis could move for Dairy Crest
- Who could swoop for Diamond Foods?
- The consistent inconsistency of European promos
- Indonesia – How ice cream makers can drive volumes
- Nestle, R&R Ice Cream in joint venture talks
- How the food industry is reacting to TPP
- China implements new safety regulations
- Unilever acquires Italian gelato group Grom
- Mondelez 'preparing to sell European cheese unit'
- Management briefing: just-food’s industry outlook for 2015
- Global Savory Snacks Market: Merger and Acquisitions August 2015
- Danone SA : Consumer Packaged Goods - Company Profile, SWOT & Financial Analysis
- E-Grocery Market in India - Market Research 2015-2019
- Food and Beverage Coding and Marking Equipment: Market Outlook 2015-2019