Ornua has acquired Shanghai-based dairy manufacturer Ambrosia Diary, giving the former Irish Dairy Board its first manufacturing base in key growth market China.
The acquisition is expected to significantly increase Ornua’s access to China’s high-end retail market, and will also provide an entry point for supplying dairy ingredients to the country’s rapidly growing food service industry.
The addition of Ambrosia’s premium cheeses to the Irish company’s offering will serve to complement the Kerrygold Irish milk range already on sale in China.
Ornua noted in a press release that these products occupy similar shelf space in shops, and the expanded range will help it ‘leverage sales opportunities for Irish dairy produce in premium Chinese markets’.
The Ambrosia facility is also set to include a New Product Development centre that will work to develop cheese products to meet the specific tastes of Chinese consumers.
Kevin Lane, CEO of Ornua commented on the acquisition, “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.”
This latest acquisition comes just weeks after Ornua opened a new powdered milk-packaging factory in Nigeria, and also meets its objective of building the Group’s capacity in developing premium dairy products for markets in milk deficit regions.
© 2016 - Checkout Magazine by Jenny Whelan.