The Irish Dairy Board (IDB) has acquired Spanish pizza cheese manufacturer Luxtor, a subsidiary of global pizza chain Telepizza.
The acquisition was made via the newly established entity, Irish Dairy Board Espana for an undisclosed sum
The deal includes Luxtor’s long-term contract for the supply of cheese to Telepizza, which the fifth largest pizza chain in the world.
"The acquisition strengthens IDB's position as a global provider of cheese to the Quick Service Restaurant (QSR) and food service sectors and complements similar investments made in US and UK customised cheese solution businesses," IDB said in a statement.
“It will also provide an immediate route to market for Irish dairy products and opens up further opportunities for Irish dairy products post milk quota removal in 2015.”
IDB chief executive Kevin Lane said: "In-line with our growth plans to make a strategic investment in Southern Europe, a milk deficit region, we are very pleased IDB Espana has acquired the trade and assets of Luxtor."
“Its central location will provide a trading and sales hub to service our growing Southern Europe customer base. And importantly for Irish farmers, it will be an immediate route to market for Irish dairy products with further growth post 2015,” he added.