Ornua is to continue on its acquisitions trend this year, according to John Jordan, CEO Ornua Foods Europe.
Speaking at the Dairy Industry Newsletter (DIN) conference in London this week, he said that Ornua will buy two or three more businesses this year.“The model of sitting in head office in Dublin is long gone, we need people in the market close to the consumer and customer.”
He also said though that the UK market would remain a long-term strategic market for Ornua. “We will continue to acquire new businesses and grow in this market.”
Jordan also said that volatility cannot be eliminated but companies must look at managing their businesses through it.
Ornua invested €20m in a new processing plant in Saudi Arabia this year and over the past two years has invested in acquisitions and significant infrastructure development in Africa, China, Germany, Ireland, Spain, the UK and the US.
In January, it announced that it had acquired the Shanghai-based dairy manufacturer, Ambrosia Dairy.
Ambrosia supplies dairy products including sour cream, yoghurt and speciality cheeses to the high-end retail and Food Service markets in the Shanghai region.
The acquisition provides it with its first manufacturing base in China, one of the most important global dairy growth markets.