Larry Goodman’s ABP Food Group (ABP) has confirmed to AgriLand that it has purchased Philip Reynolds’ 15% share in C&D Foods.
The company was originally founded in Edgeworthstown, Co. Longford almost 50 years ago by his late father, and former taoiseach (1992-1994), Albert Reynolds.
In a statement ABP said it had reached an agreement with Reynolds “to acquire his remaining 15% shareholding in C&D Foods”.
In a statement, Frank Stephenson, ABP CEO, praised C&D Foods outlining how the business has grown into “one of Europe’s leading” private label pet food businesses under Reynolds’ leadership.
I would like to thank Philip for his outstanding contribution to both C&D Foods and the wider ABP Food Group and we look forward to further developing the business into the future.
He added: “C&D is the pet food division of ABP. It is one of Europe’s leading manufacturers of private label pet food with nine manufacturing facilities in seven countries employing over 1,500 people.”
Stephenson went on to say the company manufactures a complete range of products in pouch, alutray, canned and dry-format pet foods, and is the supplier of choice for many of Europe’s leading retailers.
“ABP initially acquired 50% of C&D Foods in 2008 and a further 35% was acquired in 2011. The business has grown through a number of acquisitions in Holland, Denmark (Arovit Petfood Group) in 2012 and more recently in France (Continental Nutrition) in 2016,” he confirmed.
The move allowed the Co. Longford-based company to become a consolidator in the market and expand into Europe. C&D now has annual revenues of €500 million.