Sector News

Lisavaird Food Group to acquire Cork dairy spread specialist JDS

July 5, 2017
Food & Drink

Lisavaird Food Group has agreed a deal to acquire butter and dairy spreads specialist JDS in a deal that industry analysts suggest could be worth more than €16 million. The transaction is subject to clearance from the Competition and Consumer Protection Commission (CCPC).

The group has bought a number of businesses since it was established by the west Cork-based Lisavaird Co-operative Creamery as a vehicle for further expansion in the food industry.

It has emerged that Lisavaird has agreed to buy Cork City-based JDS Foods, which processes butter and produces spreads for sale to consumers and the catering industry.

State regulator

The deal is subject to the approval of the State’s regulator, the CCPC, which confirmed on Tuesday that the parties had told it of the transaction.

Neither side revealed the purchase price. However, JDS has sales in the region of €16 million a-year and market analysts suggest that the value of a business would be in line with its turnover, or slightly higher.

Lisavaird Co-op has sales of more than €105 million a-year. Its subsidiary already owns bakery business Coolmore Fresh Foods, which supplies cakes to multiples in Ireland and Britain, meat processor Glen Aine and Glenmar Shellfish, which recently bought Carr’s Seafood.

JDS has its own retail brands, including Dairymaid and Just Like Butter spreads, and cooking products Frytex and Garlic Gold.

Lisavaird confirmed that JDS’s management and staff would remain in place if the acquisition goes ahead.

By Barry O’Halloran

Source: Irish Times

comments closed

Related News

September 25, 2022

Coca-Cola names new president of global ventures

Food & Drink

The Coca-Cola Co. has promoted Evguenia (Jeny) Stoichkova to president of global ventures, effective Jan. 1, 2023. Ms. Stoichkova joined Coca-Cola Bulgaria in 2004 and was most recently the president of the company’s Eurasia & Middle East division, a role she has held since 2021.

September 25, 2022

Perfect Day allies with Onego Bio to speed-up launch of animal-free eggs

Food & Drink

US-based Perfect Day, is partnering with Onego Bio, which specializes in creating animal-free eggs, aiming to accelerate the timeline to bring the eggs to the market. The business, with the use of its technology, plans to commercialize animal-free ovalbumin, the most abundant egg white protein extracted through precision fermentation.

September 25, 2022

EU fails on food waste: Report reveals bloc discards more than it imports

Food & Drink

Food waste costs the EU €143 billion per year (US$141.7 billion), with a report by Feedback EU raising the alarm of how it’s vital to reduce waste from farm to fork 50% by 2030 and the only way this will be achieved is by enforcing a mandatory directive forcing the food industry to do better and retailers to pay a tax of food waste.