Henderson Foodservice has confirmed the acquisition of rival wholesaler Foodco.
Henderson Foodservice is one of the largest employers in Northern Ireland and part of the wider Henderson Group. It offers a complete service to the hospitality sector, and supplies ambient, frozen, non-food and bakery products to hotels, schools, restaurants, fast food outlets and more.
Established in 1985, Foodco is an independently owned foodservice company, with distribution depots in Lisburn, Co. Antrim, and Ashbourne, Co. Meath. Operating a fleet of multi-temperature vehicles, Foodco specialises in the supply of bespoke products to the foodservice industry throughout the island of Ireland.
The acquisition is in line with Henderson Foodservice’s future strategy and expansion which includes a £25m investment in new facilities, staff and business development. In July 2018, the company acquired BD Foods.
The takeovers of Foodco and BD Foods continue the trend of UK-based companies attempting to gain a greater foothold in the Republic in the face of mounting uncertainty over Brexit. The reverse is also happening, with Kepak recently buying out the red meat operations of UK food group 2 Sisters.
Cathal Geoghegan, Managing Director of Henderson Foodservice, said the move is an opportunity to complement the growth and development in the foodservice sector for both companies.
“The acquisition occurs at an exciting time for us as a business. Following a record-breaking turnover in 2018, we’re delighted to welcome the staff and management of Foodco into our company portfolio. Foodco is a terrific company with a strong reputation and loyal customer base and we look forward to supporting the Foodco team in solidifying their synergy with customers and suppliers.”
The Board of Directors of Foodco, Alan Kelly, Gary McIlroy, Barry Monaghan and Robert Walsh, are excited by the future prospects of this acquisition: “This is a great opportunity for the staff and ourselves to continue the expansion of the business by being part of one of the largest foodservice companies in Ireland, Henderson Foodservice.”
Although acquired as part of Henderson Foodservice, Foodco will operate as a stand-alone business with the existing management and board and will retain its corporate name and identity.