Carbery in €40m venture with Brazilian firm

Carbery Group has formed a 50/50 joint venture with BRF Brasil Foods, involving a total $50 million (€40m) investment which will use Carbery's innovative technology to process whey generated at BRF's cheese-making operations.

BRF said it chose Carbery ahead of leading global competitors due to the West Cork-based group’s unique whey processing technology. BRF, which employs 115,000 people and has an annual turnover of $13.7bn, is the second largest collector of milk in Brazil.

Carbery has not put a figure on the anticipated value of the venture, but expects it to be immediately profitable. A manufacturer of whey-based ingredients internationally, Carbery had turnover of €257m in 2011 and employs more than 500 people globally, with 200 in Ireland.