July 16, 2012

Irish Dairy Board buys over Cheese Warehouse

Dairy co-operative, Irish Dairy Board (IDB), has taken over the Cheese Warehouse - a UK-based cheese and ingredients firm, for an unknown amount.

This acquisition is a part of the co-operative's strategy to further strengthen its position in the UK food ingredients and food service sectors, which is a key market for Irish dairy exports.

The Cheese Warehouse, established in 2004, has facilities in North Shropshire. It custom formulates a range of cheese solutions for both food service and food manufacturing customers. For the year ended February 29, 2012, it reported a turnover of EUR38 million (US$46.4 million).

IDB CEO, Kevin Lane, said the acquisition is in line with the company's strategy to develop and enhance routes to market for value-added Irish dairy products.

"The Cheese Warehouse complements our existing cheese ingredients business located close by in the UK and will significantly increase our presence in the UK cheese ingredients and food service sectors," Lane added.

With the transaction, IDB plans to grow its business in the UK in collaboration with both existing and new customers across new products, technologies and processes.