This site uses cookies to improve your experience and to provide services and advertising. By continuing to browse, you agree to the use of cookies described in our Cookies Policy. You may change your settings at any time but this may impact on the functionality of the site. To learn more see our Cookies Policy.
OK
Dublin: 7 °C Wednesday 8 April, 2020
Advertisement

The company behind Avonmore wants to take the Irish brand international

But most of Glanbia’s growth plans are in protein powders and sports supplements.

Image: Mark Stedman/Photocall Ireland

AVONMORE AND KILMEADEN cheese owner Glanbia will focus on making the most of the burgeoning sports supplements industry this year.

The Kilkenny-based company today announced its 2014 results, which showed its fifth-straight year of strong growth after a particularly good performance from its international operations.

The company had a total turnover of €3.5 billion and pre-tax earnings of €245 million, a figure which was about 8% up on last year’s total.

The biggest growth came from its performance nutrition division, which includes a range of protein powders and other sports-supplement products.

Glanbia Source: Glanbia

Glanbia last year spent €149 million buying US powder and drink maker Isopure and Scandinavian brand Nutramino as it expanded in the industry.

Managing director Siobhán Talbot said the company was concentrated on making the most of its fastest-growing divisions in performance nutrition and global ingredients, which also includes Glanbia’s US cheese operations.

Meanwhile in Ireland

But it was a year of weaker performance from the company’s Irish trade. Revenue from its Dairy Ireland division was down over 5%, although earnings were still up a quarter to €19 million for the 12 months.

Talbot said Glanbia was also looking at the “internationalisation” of Avonmore in its strategy this year.

Liam Herlihy Glanbia Results Siobhán Talbot, left, in 2010 Source: Leon Farrell/Photocall Ireland

The company also recently finished building the first new milk-processing plant to be built in decades in Co Monaghan to manufacture long-life products for China and make the most of EU production quotas being lifted.

Glanbia was formed after the merger of Avonmore Foods and Waterford Foods in the 1990s, and it now employs over 5,000 people in 32 countries.

READ: Milking it: Dairy expansion to create 240 jobs >

READ: Got milk? Ireland’s cows will be giving us a LOT more of the white stuff >

  • Share on Facebook
  • Email this article
  •  

About the author:

Peter Bodkin  / Editor, Fora

Read next:

COMMENTS (55)

This is YOUR comments community. Stay civil, stay constructive, stay on topic. Please familiarise yourself with our comments policy here before taking part.
write a comment

    Leave a commentcancel