independent

Sunday 20 April 2014

Food industry mergers and acquisitions grew by 32pc to €727m last year, says report

MERGERS and acquisitions in the food industry surged by almost a third last year as the sector continued to thrive.

A report from the accountants Grant Thornton, deal-making in the food and beverage sector rose 32pc to €726m last year.

The report argues that Irish food companies must continue to invest maintaining a “robust and safe supply chain” to protect the reputation of an industry that contributed €9bn in exports last year.

Commenting on the report, Ciara Jackson, Head of Food at Grant Thornton Ireland said: “The level of deal activity shows the food sector had a very strong year, but the recent ‘horsegate’ controversy is a cause for concern.

“The reputation of Irish produce has its foundation in high standards of regulation and food safety, and our natural green environment. It is vital that the industry collaborates to create a resilient supply chain that can minimize costs whilst ensuring Irish produce maintains its international standing,” she added.

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