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Friday 22 September 2017

Glanbia buys US drinks firm

Glanbia has bought a US-based nutritional drinks company for €50m.

Aseptic Solutions Inc was founded in 2004 and specialises in the manufacture and packing of nutritional and dietary drinks, including vitamin shots, protein shakes and 100pc natural fruit juices.

Based in Corona, California, ASI employs 175 people and uses technology to manufacture better tasting and longer lasting liquid foods.

The acquisition by Glanbia's Nutritional Ingredient Technologies arm will help the company to enhance its presence in the nutritional foods market.

June milk take falls by 1.9pc

Domestic milk intake by creameries in June this year was 1.9pc or 13.5m litres below the same month last year, according to the latest CSO statistics.

Bad weather and poor grazing conditions were the driving factors behind the fall in milk supplies.

However, milk supplies for the year to date are still running 0.6pc higher than the equivalent period last year.

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Between January and June 2011, some 2,886.2 million litres of milk were taken in by creameries and pasteurisers.

However, this figure rose to 2,902.7 million litres for January to June 2012.

Connacht Gold Kent stake sold

Connacht Gold has sold its 40pc stake in the Scottish food ingredients company Kent Foods.

A spokesman for Connacht Gold said they had been reviewing their involvement in the business, which he described as "non core", for some time.

The sale price or the identity of the buyer was not disclosed. However, when Connacht Gold originally bought a shareholding in Kent Foods, it had a turnover of £65m (€81m) and profits of £1.9m (€2m).

The company's main areas of operation are dairy products, sugar products plus fats and oils. It is headed up by Iain Dalglish.

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