Irish Dairy Board Acquires Spanish Cheese Plant
The Irish Dairy Board has acquired Luxtor, a Spanish pizza cheese and cheese blends plant which is a subsidiary of Telepizza, the fifth largest pizza chain in the world. The deal includes Luxtor’s long term contract for the supply of cheese to Telepizza. The acquisition for an undisclosed sum was made via the newly established business, Irish Dairy Board Espana.
The acquisition strengthens IDB’s position as a global provider of cheese to the quick service restaurant (QSR) and food service sectors and complements similar investments made in US and UK customised cheese solution businesses. It will also provide an immediate route to market for Irish dairy products and opens up further opportunities for Irish dairy products post milk quota removal in 2015. The deal is in-line with IDB’s growth strategy to invest in milk deficit regions.
Kevin Lane, CEO of the Irish Dairy Board, says: “IDB Espana will provide expert cheese solutions for the pizza sector that complement the cheese solution technologies we continue to develop in our other international businesses. Its central location will provide a trading and sales hub to service our growing Southern Europe customer base. And importantly for Irish farmers, it will be an immediate route to market for Irish dairy products with further growth post 2015.”
The Irish Dairy Board (IDB) is an agri-food commercial co-operative which markets and sells dairy products on behalf of its members, Ireland’s dairy processors and the Irish dairy farmer. The IDB has annualised sales of over €2 billion. Headquartered in Dublin, the business employs some 3,000 people globally. It is responsible for circa 60% of Ireland’s dairy exports to over 100 countries.
