Spanish ice-cream business Grupo Alacant has reached an agreement to acquire Irish peer Silver Dairy Ventures, otherwise known as Silver Pail.
Also known as European Icecream Investments, Grupo Alacant is a subsidiary of global private-equity group InvestIndustrial.
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The financial terms of the deal were undisclosed but a statement from Grupo Alacant said the combined businesses were expected to create revenues of around €300m ($353m) a year.
Headquartered in Fermoy, County Cork, Silver Pail is one of the largest ice cream producers in Ireland, Grupo Alacant said, making “premium tubs” of ice cream for a “blue-chip portfolio of retailers, brand partners and foodservice operators”.
Silver Pail’s product range includes ice cream, frozen yogurt and sorbet. As well as manufacturing for private-label customers, the business also produces its own brand The Creamery, which is sold in Irish retail, according to the group’s website.
The business has one production site in Fermoy, which employs roughly 100 staff and has “capacity to deliver substantial growth”, the statement said.
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By GlobalDataPer Harkjaer, the chairman of Grupo Alacant, said: “We are convinced that this transaction will allow us to bring substantial value-add to our customers by combining our historical production expertise with Silver Pail’s local presence and relationships. Furthermore, we intend to invest in Silver Pail’s industrial footprint and workforce to support Silver Pail’s continued development in the ice cream industry in the region.”
The purchase is expected to help the Spanish business “accelerate its international strategy in the highly attractive UK and Irish markets”, the statement said.
It added the acquisition would allow Grupo Alacant “to better serve its blue-chip customer base” as well as support “joint R&D efforts”.
The statement said “key members” of Silver Pail’s management will stay with the company “to ensure continuity for employees, customers, and suppliers”.
The transaction is expected to take place within the first half of 2026.
Paul Condon, the sales director of Silver Pail, said: “We are very enthusiastic about our partnership with Grupo Alacant and believe this partnership will allow Silver Pail to become a leading player in the region for years to come supported by Grupo Alacant’s production expertise and broad product portfolio whilst remaining true to the qualities that make this business unique.”
InvestIndustrial struck a deal to acquire Spanish ice-cream producer Grupo Alacant just over a year ago.
Based in Alicante, Spain, Grupo Alacant specialises in private label and “co-manufacturing for branded players”. According to its website, it produces local brands such as Helados Alacant and Somosierra.
The business manages four production plants across Alicante, Murcia and Madrid and employs around 875 people.
