Ornua, the Ireland-based dairy group, has snapped up US dairy ingredients business CoreFX Ingredients from local group MCT Dairies.

The deal, struck for an undisclosed sum, will see Ornua take on a production facility in Orangeville in Illinois. Ornua teamed up with former MCT Dairies and CoreFX Ingredients executive Denis Neville to make the acquisition. Ornua did not disclose what stake the company and Neville would take in CoreFX Ingredients but, on his LinkedIn page, Neville is listed as CEO and owner of the business.

Chicago-based CoreFX Ingredients produces a range of dairy, cheese and lipid powder ingredients for US food manufacturing and foodservice customers. Its manufacturing customers include businesses in sectors like snack foods, sports nutrition and soups.

Ornua CEO Kevin Lane described the acquisition as “another key milestone in Ornua’s US expansion programme”. Lane said the deal was “in-line with our strategy to invest in high growth and profitable dairy businesses”. He added: “CoreFX Ingredients will provide our Ingredients division with greater scale and enhances our capability to deliver bespoke ingredient solutions to our customers. Importantly, we can share its dairy technologies across all of our ingredient operations around the world and in turn drive growth.”

Last year, Ornua offloaded its US food distribution business DPI Specialty Foods. The company said the sale would mean it could reallocate resources to its core business

Neville said the acquisition of CoreFX Ingredients would give the US firm “the opportunity to grow through the addition of technologies, infrastructure and people”. He added: “I am excited to build on the platform for entrepreneurial growth that we started just a few years ago with MCT Dairies. The support of an international dairy company of Ornua’s reputation and track record will help enormously with our growth plans.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.