Longford bread company has ‘met conditions’ of site sale

Panelto Foods have met their commitment to supply “high end jobs” in Longford as stipulated in a contract that saw them purchase an adjacent office block to facilitate expansion.
Councillor Seamus Butler raised the issue at the December meeting of the local authority to determine if undertakings by Panelto Foods to deliver graduate roles in the county town was met.

Cllr Butler asked the executive to furnish a report on the conditions of sale of the former Longford Enterprise Development Company Limited (LEDCO) building on the Ballinalee Road.
He said his motion was put forward to highlight a condition of sale requiring the purchaser to create over 40 “higher end” research and development posts within five years.

The Longford based bakery company inked that deal in April 2018. The condition highlighted by the Fianna Fáil councillor stipulated that the Council can reclaim the building if the company does not progress with the plans.
Cllr Butler, a founding director of LEDCO, said: “In 2018 we decided to make ourselves homeless, and we have been homeless since, in a move we felt was for the greater good.”
Panelto Foods produces artisan-style premium quality breads for in-store bakeries for the main retailers in Ireland and the UK.
They exports over 70% of its products to the UK market. The 2018 property acquisition effectively doubled factory space and added over 125 new jobs to the 150 strong staff.

The elected members were given an overview of the expansion of Panelto Foods, however details of the jobs were not included: “I welcome the report, but it doesn't answer the specific question I was asking, which was if the company delivered on the 40 R&D jobs,” Cllr Butler said, “They have expanded and increase their employment hugely, which is to be welcomed.”
The Fianna Fáil elected representative praised the company's progress, but wanted more details: “They are a very successful company, unfortunately they operate under a cloak of commercial secrecy, which is not something I understand.

“In the round they may not have met the absolute specifics of the deal, but the spirit has been more than met.
“There have been other jobs created. I know they have transferred marketing jobs from Maynooth to Longford, so I don't understand why they can't give us a breakdown,” Cllr Butler stated at the meeting.

He said the council's decision to sell was correct: “We did the right thing, and that has been justified by the jobs that are there today. Panelto Foods should be thanked for the extra 125 jobs they have delivered since 2018.”
Supporting Cllr Butler's motion Cllr Mick Cahill and Cllr Uruemu Adejinmi said it was a strategic decision taken at the time. Cathaoirleach Colm Murray also said the company has enjoyed significant expansion since the sale.

In his reply to the original motion Longford County Council Chief Executive, Paddy Mahon, said the company had fulfilled their obligations: “We are very satisfied they have met the conditions of the sale by providing high end jobs.
“They have made a very significant contribution to the local economy. It has been a fantastic good news story for both Longford town and country.”