FDBusiness.com

IDB announces intention to sell Belgian cheese subsidiary

 Breaking News
  • Ready Meals – Not Ready For the Future New research (1) published by Eating Better, a powerful alliance of more than 50 organisations, shows that supermarkets need to shake up their ready meal ranges. They are not catering for the growing number of flexitarian customers who are cutting back on their meat eating for their health and the health of the planet (2). [...]...
  • Top 100 Largest Spirits Brands Revealed The world’s most popular alcoholic drink in 2017 was the South Korean soju brand Jinro, owned by Hite-Jinro, according to the IWSR Real 100, the definitive ranking of the world’s largest spirits brands by volume. Selling almost 76m nine-litre cases, Jinro retains its number one position from last year, and once again by a staggering [...]...
  • Ireland’s Most Sustainable Paper-free Cup Launched Ireland’s only completely paper-free compostable cup has been launched by Zeus, the Irish global packaging solutions company. Unlike other compostable cups, the Treefree Cup contains absolutely no paper product, making it the most sustainable single-use cup available in the Irish market. Additionally, to tackle the composting waste problem in Ireland, the cups and lids will be [...]...
  • GEA Supplies Largest Buttermaking Machine in India GEA recently sold its first buttermaking machine type BUE to an Indian dairy producer. Creamy Foods Limited, located in the state Uttar-Pradesh, placed an order for a GEA BUE 6000, which has a capacity of up to 6000kg/h butter, making it the largest buttermaking machine in India. The new machine will be brought into operation in [...]...
  • Clearance For Arla Foods UK and Yeo Valley Deal The British Competition and Markets Authority (CMA) has cleared Arla Foods UK’s proposed acquisition of Yeo Valley Dairies, a subsidiary of the Yeo Valley Group. The transaction will give the farmer-owned dairy co-operative the rights to use the Yeo Valley brand in milk, butter, spreads and cheese under an intellectual property licence with Yeo Valley. The [...]...

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

  • September 5, 2018Int'l Food Products and Processing Technologies Exhibition (WorldFood Istanbul)
  • September 15, 2018iba
  • September 25, 2018PPMA Show 2018
  • September 27, 2018Int'l Fruit Show (eurofruit)
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements