Glanbia invests €420k in troubled food business

Glanbia has poured €420,000 into award-winning food producer McEvoy Family Foods Ltd, which went bust last month, the High Court heard yesterday.

Declan Murphy, counsel for the examiner appoin-ted to the Co Tipperary firm, told Mr Justice Colm MacEochaidh a scheme of arrangement for rescuing the company had been accepted by a majority of creditors.

Mr Murphy said Glanbia had made a significant investment in the company and examiner Neil Hughes was confident the additional commercial strength Glanbia brought to the ailing company should ensure future success.