IDB Acquires UK Ingredients Business The Cheese Warehouse
Established in 2004, The Cheese Warehouse has grown consistently to achieve a turnover of circa €38 million for the year ended 29 February 2012.
12 Jul 2012 --- The Irish Dairy Board (IDB) has acquired The Cheese Warehouse, a UK based cheese ingredients company for an undisclosed fee. This strategic acquisition will further strengthen the IDB’s position in the UK food ingredients and food service sectors, a key market for Irish dairy exports.
Established in 2004, The Cheese Warehouse operates from well invested facilities in North Shropshire where it custom formulates a range of cheese solutions for both food service and food manufacturing customers. It has grown consistently to achieve a turnover of circa €38 million for the year ended 29 February 2012.
Commenting on the transaction, Kevin Lane, CEO of IDB said: "This acquisition is consistent with our strategy to develop and enhance routes to market for value-added Irish dairy products. The Cheese Warehouse complements our existing cheese ingredients business located close by in the UK and will significantly increase our presence in the UK cheese ingredients and food service sectors".
"This transaction presents exciting opportunities to grow our business in the UK in collaboration with both existing and new customers across new products, technologies and processes. We view in-market collaboration as a key growth driver for Irish dairy products as milk volumes expand ahead of the abolition of milk quotas in 2015".
