Carbery to expand their cheese-making facility in Cork
West Cork cheesemakers, Carbery Group, are to expand their production facility in Ballineen.
The €78m investment will help the group diversify into other cheese products in response to consumer demand for mozzarella and other cheese varieties in emerging markets.
The new production facility, which is hoped to be finished in early 2020, will increase milk production to four million litres of milk each day.
The Group will borrow to fund the investment and thus will not seek to raise additional capital through its shareholder base.
Jason Hawkins, Chief Executive Officer, Carbery Group, said: “Product and market diversification has always been a core part of our business and ongoing strategy, with this project in the planning for almost two years.
"As a global organisation, we are constantly looking to international consumption trends to further grow our offering and our business.
"Cheese such as mozzarella provides us with a more diversified product range and an opportunity to build a stronger foothold in new and emerging cheese markets such as Asia and the Middle East, while also providing us with a new product range and market opportunities, in sectors such as foodservice.”
Peter Fleming, Chairman, Carbery Group, added: “Carbery has traditionally paid a leading milk price to its farmer suppliers. It is the role of the Carbery board to represent the interests of the milk suppliers of West Cork and reinvest in the organisation to secure the future for ourselves and those who come after us.
"This investment further enhances the organisation’s ability and commitment, to delivering value through a strong milk price, to our shareholders into the future.”
