C&D acquires Danish company
Edgeworthstown based pet food manufacturer C&D Foods Group has acquired Danish company Avorit, two years after the Longford business purchased Nestle’s pet food operations in Holland.
The move means that C&D are now Europe’s second largest ‘private label’ operator in the pet food industry behind German company Saturn Pet Foods. Founded in 1969, Avorit owns several production plants throughout Europe including facilities in its native Denmark, Austria, Spain and the UK. They provide a range of cans, pouches, alutray and dry foods.
Previously owned by Icelandic financial institution Kaupthing, Avorit sells its products across the continent via its sales offices in Italy and Germany and employs approximately 620 staff. The move means that both businesses combined, will provide employment to 1,150 staff, 250 of which are to be based in Ireland.
Avorit produces 250,000 tonnes of product annually and has a turnover of €200 million. The business has had several owners spanning the last decade but has never been profitable.
The deal is subject to clearance in Germany and the price of the deal is yet to be disclosed but it is believed that C&D have taken on Avorit’s debts as part of the takeover, thought to be in the region of just under €10 million.
Speaking last week, Chief Executive of C&D, Philip Reynolds said: “This deal means that we will hopefully now have a customer base that stretches right across Europe. Avorit brings a whole new base, which, combined with our manufacturing facilities, provides a very exciting opportunity.”
He said that the purchase was a “very good fit”, enthusing: “We share a lot of similar production technologies but our mix of capacities is different.” The deal is expected to boost C&D’s company turnover to €320 million for 2012.
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