A €15m windfall for Ireland’s dairy processors follows Ornua’s recent successful disposal of DPI Specialty Foods.
Ornua sold a majority stake in DPI, a US speciality foods distribution business, to Arbor Investments in December 2015, and has announced it will pay an additional cash bonus of €15m to its member suppliers, funded from Ornua’s gain on that disposal.
This additional cash bonus will be paid in April/May 2016 and will be in addition to the normal annual cash bonus paid to its dairy processor member suppliers by the former Irish Dairy Board.
Ornua says the sale of DPI will also allow it continue to develop its core business of building routes to market for Irish dairy products on behalf of Irish dairy farmers.
The last 18 months has seen Ornua invest in acquisitions and significant capital expenditure in Africa, Germany, Ireland, Saudi Arabia, Spain, the UK and the US.
This week, it announced the acquisition of the Shanghai-based dairy manufacturer, Ambrosia Dairy.
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