Donworth Capital has invested €3m in buying two businesses in the Irish fresh food production sector.
The company has agreed a deal to buy Galmere Fresh Foods in Co Galway, while it has also successfully negotiated the purchase of Taravale Foods out of examinership.
The investment will secure 80 jobs between the two firms.
Galmere Fresh Foods, based in Ballybrit, was founded in 1980 by chef JJ Coppinger. The company produces freshly prepared salads and soups.
Taravale, founded in 1995 by Sean Fay, is based in Naas, Co Kildare and produces fresh salads, sandwich fillers and pesto. Both businesses manufacture for major retailers and food service providers.
"Both Galmere Fresh Foods and Taravale have been through extremely challenging times in recent months and this investment brings expertise and a well financed balance sheet to support their future development. These two companies have great potential to grow market share in Ireland and overseas," commented John Casey from Donworth Capital.
