The Irish commercial co-operative and exporter of Irish dairy products, The Irish Dairy Board Co-operative Society Limited (IDB), has sold its Belgian cheese packing subsidiary, IDB Belgium NV, to Royal FrieslandCampina NV, the Netherlands-based provider of dairy products, fruit drinks and ingredients, for an undisclosed consideration.
IDB Belgium is a pre-packer of hard and semi-hard cheeses. The company is one of the largest packers in Belgium and its products are sold to retailers, both under brands and private label, as well as to food producers and the food service sector.
Royal FrieslandCampina NV produces and sells dairy-based beverages, infant nutrition, cheese and desserts in many European countries, in Asia and in Africa via its own subsidiaries. Dairy products are also exported worldwide from the Netherlands. In addition, products are supplied to professional customers, including cream and butter products to bakeries and catering companies in West Europe.
The proceeds of the transaction will be used in strengthening IDB’s growth plans and acquisition prospects.
Oaklins' team in Ireland advised the seller in this transaction.
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