The Irish Dairy Board (IDB) has announced that its wholly owned subsidiary Adams Food Ingredients, has acquired FoodTec UK Limited, a specialist powder nutrition firm, for £1.2m.
Adams Food, located in Leek, is a food ingredient powder blending business which specialises in sourcing, formulating, blending and packing food ingredients for UK food manufacturers and nutrition brands.
FoodTec, based in Crewe in the UK, specialises in powder blending ingredients and focuses on gluten free and other specialist nutrition products. The company was previously owned by Dairy Crest.
Commenting on the announcement, Joe Collins, Managing Director of the Irish Dairy Board Dairy Trading & Ingredients division said: “The FoodTec acquisition presents exciting opportunities to grow both the AFI and FoodTec businesses. The acquisition is also in-line with IDB’s strategy to invest in growth dairy businesses.”
The IDB has annual sales of around €2bn and is responsible for the export of 60% of Ireland’s dairy output.