Ornua has acquired Chinese dairy manufacturer Ambrosia Dairy, a move that will enhance the former's access to the high-end retail market and the fast growing food service industry in China.
The acquisition emerged after Ornua's new milk packaging facility opened in Nigeria.
Ambrosia Dairy produces sour cream, yoghurt and speciality cheeses, which are supplied to retail and food service markets in Shanghai. Its cheeses will complement Ornua's product range, which includes Kerrygold Irish milk products that are sold in China.
Ambrosia's facility will have a new product development centre that will cater to consumer demand for cheese products in China.
Ornua CEO Kevin Lane said: "This acquisition is another important milestone in Ornua's growth as a global supplier of quality dairy products.
"We are buying an excellent dairy enterprise, which allows us to significantly grow our Chinese business in one step.
"It provides us with a manufacturing base in China and brings onboard a team with local knowledge and expertise, complementing our own existing in-market operation.
"Ambrosia Dairy is particularly well known for the quality of its cheeses and it has been at the forefront of the development of the domestic cheese market in Shanghai."
Ornua expects the new additions to help leverage sales opportunities for Irish dairy products in the Chinese markets.
The latest investment follows a series of investments by Ornua to target new bases for Irish dairy products over the past two years.
Ornua made investments in Africa, Germany, Ireland, Saudi Arabia, Spain, the UK and the US.
