Foodservices provider Compass Group Ireland has agreed a deal to buy family-owned Glanmore Foods for an undisclosed sum as it expands its footprint in food-services within the education sector.
Under the terms of the deal, Dublin-based Glanmore Foods will retain its business brand, current management team and all employees, as well as existing operations facilities and suppliers.
Glanmore Foods, the country's biggest manufacturer and supplier of school lunches, services 400 primary and secondary schools, which are part of the DEIS programme, with packed lunches, hot meals and snacks.
It also operates on-site cafeterias in 42 schools, as well as supplying the national "Food Dudes" healthy eating scheme that is managed by Bord Bia.
John Mooney, Managing Director of Glanmore Foods, said that combined with the professional resources of Compass Group, the two company's complementary operations represent an exceptional business operation set for extensive growth.
"The long-standing senior management team at Glanmore Foods will continue to head up the new Compass Ireland school meals division. The collaboration brings together a wealth of operational expertise and resources, that will help increase the delivery of hot, nutritious meals to children across Ireland," he added.
Deirdre O'Neill, Managing Director of Compass Ireland, said that Glanmore Foods is a fantastic business, which is passionate about children's health.
"While it will be business-as-usual from an operations perspective, with a relentless focus on providing a best-in-class food experience for children and schools, the future potential for our shared expertise is exciting," Ms O'Neill said.
"As well as the opportunity to improve the supply chain, client service, range and value, there will be additional business potential for local Irish food producers. This acquisition is a unique opportunity for Compass Ireland, which is on a dynamic growth journey," she added.
Earlier this year, Minister for Social Protection Heather Humphreys said that every child in a DEIS primary school will get a hot meal from September, benefiting 64,500 children.
Minister Humphreys also announced the roll-out of hot meals to all remaining primary schools by 2030, with the roll-out starting in 2024.
Completion of the deal is subject to regulatory approval from the Competition and Consumer Protection Commission.
