FDBusiness.com

IDB announces intention to sell Belgian cheese subsidiary

 Breaking News
  • UK Grocery Prices Rising at Fastest Rate in Four Years The latest grocery market share figures from Kantar Worldpanel, for the 12 weeks to 5 November 2017, show UK supermarket sales have increased in value by 3.2% year-on-year in the run up to Christmas. Fraser McKevitt, head of retail and consumer insight at Kantar Worldpanel, explains: “Volume sales have increased by less than 1%, meaning it’s [...]...
  • Alcohol Minimum Unit Pricing to Go Ahead in Scotland The UK Supreme Court has ruled that minimum unit pricing for alcohol, which was passed overwhelmingly by the Scottish Parliament in 2012, can now proceed. Scottish Health Secretary Shona Robison has welcomed the decision and confirmed she intends to make a statement to Parliament shortly, setting out the Scottish Government’s next steps. Following the unequivocal backing [...]...
  • GEA Brings Together Technologies to Supply Extended Production Line For BMI GEA has recently been selected to supply an extended pasta filata cheese production line for BMI in Jessen, Germany. With this exemplary project GEA brings together its joint cheese-making expertise, resulting from its acquisition of de Klokslag and CMT in 2014 and 2015 respectively, with GEA’s flow and processing experience to provide a single offering for this [...]...
  • Bosch Packaging Technology Wins German Design Award 2018 The Sigpack VPF (Vertical Platform for Flat Pouches), the first freely scalable flat pouch machine from Bosch, has been honoured with the German Design Award 2018 in the Excellent Product Design category. The German Design Council presents the prestigious award on an annual basis. The German Design Award is the second prestigious accolade for the [...]...
  • Premier Foods Returns to Revenue Growth Premier Foods, the UK convenience food group, has reported group revenue of £353.3 million for the 26 weeks ended 30 September 2017 – an increase of 1.5% on the prior period – with Branded revenue in line with last year at £295.4 million while Non-branded revenue increased by 10.1% to £57.9 million. Group reported half year [...]...

IDB announces intention to sell Belgian cheese subsidiary

IDB announces intention to sell Belgian cheese subsidiary
June 12
13:27 2012

The Irish Dairy Board (IDB) announced today that it has entered into an agreement to sell its Belgian continental cheese packing operation, IDB Belgium N.V. to Royal FrieslandCampina N.V..

IDB Belgium N.V. operates from Genk in Belgium and has a turnover of about €100m for the year ended 31 December 2011.

The transaction which is subject to regulatory approval is expected to be completed by 31 July 2012.

Proceeds from the transaction will be invested in furthering the group’s strategic growth plans and in international acquisition prospects.

Commenting on the proposed transaction, Kevin Lane, CEO of IDB said:

“The sale of our continental cheese packing business to Royal FrieslandCampina N.V. is another significant strategic step for IDB. The divestment will unlock additional capital to develop more focused routes to market for Irish product at a time when IDB Belgium’s future potential can best be realized with the support of a local dairy partner. Royal FrieslandCampina N.V. can bring greater synergy benefits to the Belgian business as well as presenting partnership opportunities with IDB in the future.”

About Author

colin

colin

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • November 28, 2017Fi Europe
  • December 4, 2017Plastics and Paper in Contact with Foodstuffs 2017
  • January 8, 2018RAI Exhibition
  • January 16, 2018Sival Plant Production Trade Show
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements