Ornua acquires Shanghai-based dairy manufacturer in first China acquisition
Published 13/01/2016 | 06:42
Ornua, formerly known as the Irish Dairy Board, has acquired a Shanghai-based dairy manufacturer as its global dairy market growth continues.
The firm acquired Ambrosia Dairy, which is Ornua's first manufacturing base in China. The new acquisition supplies sour cream, yogurt and speciality cheeses to high-end retail markets in the Shanghai region.
Speaking about the acquisition Ornua's chief executive, Kevin Lane, said that Ambrosia is known for its quality production of cheeses.
“This acquisition is another important milestone in Ornua’s growth as a global supplier of quality dairy products. We are buying an excellent dairy enterprise which allows us to significantly grow our Chinese business in one step.
"It provides us with a manufacturing base in China and brings on board a team with local knowledge and expertise, complementing our own existing in-market operation," Mr Lane said.
Ornua's new acquisition will provide an entry point for the firm into the Chinese food service industry.
The Ambrosia facility will also include a New Product Development centre that will focus on developing cheese products that meet the specific tastes of the Chinese consumer.
Over the last 18 months, Ornua has made acquisitions in Africa, Germany, Ireland, Saudi Arabia, Spain, the UK and the US. The new acquisition comes weeks after the opening of a new powdered milk packaging factory in Nigeria.