Irish dairy Ornua has acquired a US ingredients business from MCT Dairies as it seeks to expand its presence in America.
The deal with MCT Dairies includes the CoreFX Ingredients division and a powder ingredient production facility in Illinois.
Ornua said the business, acquired in partnership with Denis Neville, formerly of MCT Dairies, complemented its existing ingredients production facilities in Saudi Arabia, Spain, the UK and the US.
The facility included with the transaction is Ornua’s first specialty dry ingredients production site in the US.
Chicago-headquartered CoreFX uses spray drying and dry blending technologies to produce a range of dairy, cheese and lipid powder ingredients for US food manufacturing and foodservice customers. Its markets include snack foods, sports nutrition, soups, sauces and dressings, infant and toddler nutrition, desserts, bakery and dairy.
Ornua plans to further increase the scale and capability of the CoreFX business through customer-led innovation, dairy technologies and its team expertise, the dairy co-op behind Kerrygold and Pilgrims Choice added.
It is also investing in the development of the production facility’s technical capabilities and in a customer innovation centre at the Chicago headquarters.
“This acquisition is another key milestone in Ornua’s US expansion programme and is in line with our strategy to invest in high growth and profitable dairy businesses,” said Ornua CEO Kevin Lane.
“CoreFX Ingredients will provide our ingredients division with greater scale and enhances our capability to deliver bespoke ingredient solutions to our customers. Importantly, we can share its dairy technologies across all of our ingredient operations around the world and in turn drive growth.”
Denis Neville, newly appointed CoreFX CEO, added: “This investment affords the CoreFX Ingredients business the opportunity to grow through the addition of technologies, infrastructure and people. I am excited to build on the platform for entrepreneurial growth that we started just a few years ago with MCT Dairies. The support of an international dairy company of Ornua’s reputation and track record will help enormously with our growth plans.”
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