Henderson acquires Monaghan-based food supply business
The food service arm of Spar owner Henderson Group has acquired a firm in Co Monaghan, giving it a further foothold in the Republic.
Weekly Business Digest Newsletter
Henderson Foodservice said the deal, for an undisclosed sum, is part of a £25m investment in a "future growth strategy".
It sees it take on the 25-year-old Glaslough firm BD Foods, founded by the Bowe family, parents of retired Ulster and Ireland rugby star Tommy Bowe.
BD (Barbarrie Duckling Limited), which will continue to operate under its existing identity after the acquisition, supplies a range of fresh, frozen and dry goods to the premium foodservice sector throughout Ireland. It reported pre-tax profits of €0.6m (£0.5m) in its latest results.
Damien Barrett, managing director of Henderson Foodservice, said the company has a similar "approach" to Henderson's.
"BD Foods is a terrific company with a strong reputation and, like the Henderson Group, is a family-run business with a positive work ethos and is a significant employer in its locality," he said.
"Our purchase of BD Foods will strengthen our product portfolio at Henderson Foodservice specifically in the hotel and high-end restaurant business. It also presents substantial opportunities for us to increase our customer base across the island."
Henderson Group chief financial officer Ron Whitten added: "We look forward to investing in the business to create product and distribution synergies that will complement both companies."
Paul Bowe, BD Foods managing director, said the acquisition will allow it to progress in the market.
He said: "Going forward, this is an excellent move for our staff and management team and will enable the company to progress and expand more quickly and efficiently which will ultimately benefit both staff and customers. Many of our customers started out with us over 20 years ago and are still trading with BD Foods.
"As part of Henderson Group we believe we can further grow those relationships and better service our customers both new and established." BD Foods counts Qantas airline, Nando's and Virgin Trains among its customers.