Lisavaird Food Group Spreads Growth Strategy with JDS Acquisition
06 Jul 2017 --- The Lisavaird Food Group says the acquisition of dairy spread specialist JDS is a good fit and there are big plans for a growth strategy to build the company’s international presence.
Speaking with FoodIngredientsFirst about the deal with Cork-based JDS, Martin Dineen, Director of Lisavaird Food Group and CFO of Lisavaird Co-Op, emphasizes that quality companies operating within the Irish, UK and European markets are highly sought after.
“Lisavaird Food Group comprising of Glen Aine Foods, Coolmore Fresh Foods and Glenmar Shellfish are delighted to welcome JDS Foods to the Group,” he says.
“JDS has a long tradition in food dating back to 1871 and traces its origins back to the Cork Butter Exchange located under the world-famous Shandon Bells within the historic heart of Cork City.”
“Lisavaird Co-Op, owners of the Lisavaird Food Group was established in 1925. It has a proud history of promoting locally produced food products. Paddy Ryan Chairman of Lisavaird Co-Op says that JDS Foods is a well-established Cork company with a very strong management team. JDS under the guidance of Charlie Fleury has continually invested in innovation and the company has delivered consistently through its Dairymaid brand.”
“This acquisition fits well with Lisavaird Food Group’s strategy to grow its presence internationally.”
No financial details of the transaction - which is subject to clearance from the Competition and Consumer Protection Commission (CCPC) - have been announced, however some analysts suggest that it could reach €16 million.
JDS processes butter and produces spreads for sale to the catering industry and consumers and has its own retail brands, including Dairymaid and Just Like Butter spreads, and cooking products Frytex and Garlic Gold.
CEO of Lisavaird Co-Op Pat Moriarty also confirmed that the company is happy to have the opportunity to invest in “such a well-managed and successful business” and says he is looking forward to working with the team in JDS.
All 55 staff employed in Cork and in the UK will remain in place.
by Gaynor Selby
