Isif backs €22m Green Isle food firm acquisition
The Ireland Strategic Investment Fund (Isif) has backed the acquisition of the Green Isle food business by a group led by Maurice Hickey, the former CEO of Tayto-maker Largo Foods.
The business includes Donegal Catch. It is understood the deal is worth around €22m.
The Irish Independent first revealed last October that Mr Hickey was favourite to buy the business from UK food baron Ranjit Singh Boparan's 2 Sisters Food Group.
The acquisition will support over 100 jobs at the plant in Gurteen, Co Sligo and offices in Naas, Co Kildare. The combined businesses will operate under the Green Isle Foods banner, and will seek to grow and develop the brands.
Isif is the biggest investor. Other investors include Mr Hickey and the founder of Largo Foods, Ray Coyle, as well as a other private investors.
Mr Hickey said: "We are very excited about the opportunity. It comprises quality brands with excellent market positions and offers a strong platform for growth."