Oghma advises on Irish Dairy Board’s Acquisition of FoodTec UK
Oghma Partners LLP is pleased to announce its role as exclusive corporate finance adviser to The Irish Dairy Board in relation to the following transaction, which completed on 30th July 2014:
Irish Dairy Board Acquires FoodTec UK
July 30, 2014
The Irish Dairy Board (‘IDB’) is pleased to announce its wholly owned subsidiary Adams Food Ingredients Limited (‘AFI’), has acquired the business and assets of FoodTec UK Limited (‘FoodTec’), a specialist ingredients business, from Dairy Crest.
AFI, located in Leek, is a food ingredient powder blending business which specialises in sourcing, formulating, blending and packing food ingredients for UK food manufacturers and nutrition brands.
Commenting on the announcement, Joe Collins, Managing Director of the Irish Dairy Board Dairy Trading & Ingredients division said: ‘The FoodTec acquisition presents exciting opportunities to grow both the AFI and FoodTec businesses in collaboration with both existing and new customers across new products, technologies and processes. The acquisition is also in-line with IDB’s strategy to invest in growth dairy businesses that deliver strong returns to our members, Ireland’s dairy processors and Irish dairy farmers.”
The completion of this transaction brings to seven the number of acquisition and disposal processes completed by Oghma Partners in the year to date.
For the full press release please click here.