EVANSTON, ILL. — The founder of CoreFX Ingredients, Denis Neville, is acquiring a majority stake in the company from the Irish dairy processor Ornua.
CoreFX Ingredients was founded in 2016 and uses spray-drying and dry-blending technologies to produce a range of dairy, cheese and lipid powder ingredient solutions for United States food manufacturing and foodservice customers. The company’s process converts natural, plant, and dry-based oils into highly stable powders, according to the company.
Ornua acquired the CoreFX Ingredients business unit of MCT Dairies in November 2016 along with a powder ingredient production plant in Orangeville, Ill.
Neville, who was with MCT Dairies, transitioned to CoreFX Ingredients as CEO after the acquisition in 2016.
With the acquisition, CoreFX Ingredients said it will focus on science and creativity, expanding market reach, and enhancing operational efficiencies.
“Having founded CoreFX with an expectation of continuous evolution, I am excited to embark on this new chapter to unlock our full potential,” Neville said. “With a clear strategic vision and focus on innovation, we will leverage our collective expertise to drive growth, deliver optimal value to our customers, and position CoreFX Ingredients as a leader in the markets we serve.”