The Irish Dairy Board has acquired a Spanish cheese manufacturer which supplies one of the biggest pizza chains in Europe.
The cooperative is to acquire the trade and assets of Luxtor, which is a subsidiary of and supplier to Telepizza.
Telepizza has more than 600 outlets in Spain, with a significant presence in a number of other countries including Portugal, Poland, Chile and Columbia.
IDB said the acquisition included Luxtor’s long-term contract to supply cheese to Telepizza.
The company said the purchase would strengthen its position in the quick service restaurant industry and would also provide a new route to market for Irish dairy products ahead of the abolition of milk quotas next year.
IDB chief executive Kevin Lane said Luxtor’s location would allow to act as a “trading and sales hub to service our growing Southern European customer base”, giving Irish farmers greater access to the region as a whole.