Majority of Irish Pride sold to Pat the Baker
The bulk of the Irish Pride operation has been sold to Longford-based firm Pat the Baker, the Irish Independent has learned.
Irish Pride is the country's second biggest bakery business, with sales of around €50m a year. It operates two major manufacturing sites in Taghmon, Co Wexford, and Ballinrobe, Co Mayo, as well as 23 regional distribution depots.
The business went into receivership in June.
The Irish Pride Ballinrobe plant is set to close, however, impacting 60 jobs at the factory. Pat the Baker has bought the equipment at the plant, but not the site.
However, the Irish Pride factory in Taghmon, Co Wexford, will remain open following the sale to Pat the Baker. It employs about 250 people.
The sale must be cleared by competition authorities.
The acquisition of the Irish Pride business comes as it emerged that Pat the Baker managing director Paddy Higgins died this morning. He was 61.