Food group Glanbia is in advanced discussions on a new $140 million project with its US joint venture partner South West Cheese.
The project, which will take two years to complete, will boost production at its cheese and whey production plant in New Mexico by 25 per cent.
Whey is the chief component in Glanbia’s fast-growing sports nutrition business.
The Kilkenny-headquartered company is now ranked as the biggest global player in the market.
In a trading update, the group said revenue was up 9 per cent over the first nine months of the year.
This was driven by a strong performance in sports nutrition division, the company said.
Managing director Siobhan Talbot said the outlook for the remainder of 2015 was positive.
She also reiterated the company’s full-year guidance of adjusted earnings per share growth of 9- 11 per cent on a constant currency basis – if exchange rates remain at current levels for the rest of the year.
Source: Irish Times
The facility is designed to foster innovation and deepen collaboration with customers, by offering a range of new services and solidifying its role as a central hub for customer support. Tereos’ team, supported by a network of 50 scientists, will ensure customers can innovate and meet the rising consumer demand for healthier and more sustainable products.
Glanbia has agreed to acquire Flavor Producers from Aroma Holding for an initial consideration of $300 million. Flavor Producers is a US-based flavour platform, providing flavours and extracts to the F&B industries, with a focus on organic and natural ingredients.
Lesnard, who previously worked at Nike, The North Face and Sephora, has a mission to “grow and sustain GODIVA’s position and expertise in the premium chocolate category, leveraging ongoing support from pladis to take GODIVA and its legendary chocolate to new heights.”
