An expansion by the chilled foods company, Nature's Best, will lead to the creation of 100 new jobs, it was announced yesterday. The company, based in Duleek, Co Meath, has agreed a £2.85 million expansion proposal with Forbairt, involving the building of a new 53,000 square foot food processing facility on a green field site.
Nature's Best supplies over 110 different products for sale in retail outlets in Ireland and Britain.
The main reason for the expansion is an approval for the company from Tesco to supply its stores in Ireland and Britain.
Yesterday's jobs announcement was attended by Tesco's commercial director, Mr Andrew Grant, who said Nature's Best were among several Irish suppliers "concluding deals to supply Tesco supermarkets in Ireland, Britain and Europe".
On the question of the future development of Nature's Best, the company said it is "very much in the market" for an acquisition.
An earlier attempt to buy another large consumer foods company failed at the last moment, according to managing director Mr Paddy Callaghan.
If a suitable acquisition can be made, the company says, other options of developing Nature's Best will be considered, this might include a flotation.
The company was formed in 1986 and is the largest producer of vegetable-based prepared consumer foods, such as salads, in the Republic.
It has a turnover of over £8 million and employs 150 people.
The chilled foods sector in the Republic is growing by 30 per cent a year and Nature's Best controls between 70 and 75 per cent of the market.
About 75 per cent of the raw materials used in the products are grown in Ireland, mainly by specialised market gardeners.
"Building on our strong relationship with Quinnsworth, this new expansion will give us the capacity to meet increased orders from both Tesco Ireland and Tesco UK in the future," said Mr Callaghan.
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