Irish Dairy Board buys U.S. cheese company
Nov. 7, 2011
by Keith Nunes
HILBERT, WIS. — The Irish Dairy Board has acquired Thiel Cheese and Ingredients for $50 million. Thiel Cheese custom formulates and manufactures a variety of process cheese products from its 85,000-square-foot facility.
“We are excited about this strategic acquisition in the U.S.A., which will transform our value-added cheese ingredients business,” said Kevin Lane, chief executive officer of the Irish Dairy Board, which is based in Dublin, Ireland. “It is an excellent and complimentary fit to our existing growing U.S.A. ingredients business. The acquisition of a profitable and well established company accelerates our growth strategy in line with our five-year plans and our commitment to reinvest the divested funds into core high growth dairy businesses. This acquisition is in line with our strategic objectives of building routes to market and routes to value for dairy products.”
The Irish Dairy Board has a U.S. office in Evanston, Ill. It also owns Meadow Ingredients USA L.L.C., Byron, Minn.
Thiel Cheese and Ingredients was owned by FCF Partners, a private equity firm based in Milwaukee.