Success at the 2018 Nantwich International Cheese and Dairy Awards

Congratulations to the Carbery cheese team for their success at the 2018 International Cheese and Dairy Awards, in Nantwich: Taking home 3 golds, 3 silvers, 3 bronzes and 4 very highly commended awards.

The awards included best cheese with a health benefit, best vegetarian cheese and best lactose free cheese. Dubliner Ploughman’s Slices also took home two awards.

Synergy Flavours Ltd acquires Italian natural flavourings supplier, Janoušek

Synergy Flavours Ltd has announced today that it has completed the acquisition of Janoušek, in Trieste, NE Italy. One of the world’s first suppliers of herbal extracts and natural flavourings and an expert in Italian profiles, Janoušek has been serving customers in its home market of Italy for 135 years and also operates across Eastern Europe. The acquisition of Janoušek will enable Synergy to expand into these European geographies with its specialist product ranges, which include flavours for nutrition and dairy taste solutions.

Synergy’s flavour creation and application capabilities span the globe – with commercial, manufacturing and technical support facilities in Ireland, the UK, the US, Brazil and Thailand. The company is part of the Carbery Group – a leading international manufacturer of speciality food ingredients, flavouring systems and award-winning cheese producer, owned by four Irish dairy co-operatives.

Steve Morgan, CEO, Synergy Flavours Ltd commented: “We’re thrilled to be welcoming the Janoušek business into our Group as it brings new expertise and products into our natural flavour, essences and extracts portfolio and complements our long heritage in dairy processing in Ireland and vanilla extraction in the USA. The Italian site has an excellent record for high quality manufacturing, offers room for growth with easy road access to much of mainland Europe.

“Janoušek is a growing, well run business and we have no plans for major or immediate changes. Our intent is to invest in and grow the team, adding new skills and new capacity to the site as required over the coming years.”

Jason Hawkins, CEO of the Carbery Group added: “With ongoing investment and expansion underway in the US, Asia and Brazil and recent investment in Mexico, our intention is for Synergy Flavours to be positioned to support customers across the world, regardless of borders or geography. The acquisition of Janoušek gives Synergy in Europe a new home on the doorstep of Eastern Europe, potentially easier access to the Middle East and an established base to support flavour and natural ingredient manufacturing for new and existing customers in Italy and the wider region.”

Carbery Group reports 23% increase in 2017 turnover to €417 million

Carbery Group, the West Cork based international ingredients company, has reported a strong financial performance for the year ended 31 December 2017.

Group turnover for the year was up 22.7% to €417.3 million from €340.0 million in the previous year. EBITDA (earnings before interest, tax, depreciation and amortisation), increased to €41.8 million, up from €37.0 million in 2016, and the Group is reporting increased EBITA (operating profit before interest, tax, amortisation and exceptional items) of €31.0 million (2016: €27.1 million).

Jason Hawkins, Chief Executive Officer, Carbery Group said that the positive results were achieved as a result of strong trading performance across all three of Carbery’s strategic business platforms of Dairy, Nutrition and Taste. “Our Dairy business performed well on the back of strong dairy markets and continuing growth in our milk supply. Carbery’s Nutritional Ingredients platform continued to drive growth across new products, customers and markets, and Synergy, our international Taste business, once again delivered a very strong performance with growth across all key markets,” he said.

Mr. Hawkins noted that, as a result of very strong dairy markets and a good business performance, Carbery was able to continue to pay a leading milk price to its supplier shareholders during 2017. In addition, at the year end, the Board declared a 1 cent per litre bonus for 2017 milk.

Supplies of milk to Carbery’s processing facility in Ballineen increased by 8.2% to 509 million litres in 2017, and are up 28% since the removal of quotas. Mr. Hawkins also commented that “the Carbery Board allocated €10 million into its Stability Fund at year end to support future milk prices during times of price volatility.”

During 2017 Carbery invested a further €17.1 million across its global operations. This brings investment in the business over the past five years to a total of €80 million.

Carbery Group’s net debt position at 31 December 2017 was reduced to €12.7 million (2016: €26.2 million).  See Five Year Financial Review below.

Dairy Business
Carbery’s dairy business performed well in 2017 with steady growth experienced in its cheese business, supported by its partnership with Ornua.

Whilst noting that Brexit is a significant concern, particularly for Carbery’s cheese business given the importance of the UK market for Irish cheddar, Mr. Hawkins said: “We have a Brexit working team evaluating and preparing for all scenarios under either a soft or hard Brexit. We are also working closely with Irish governmental and industry bodies to ensure the potential implications of Brexit are understood and that we, and the dairy industry, are supported.”

Carbery launched its fourth fixed milk price scheme for its milk suppliers in December 2017. These schemes continue to offer some income stability in a volatile dairy market.

Nutrition Business
Carbery’s nutrition business, which includes a broad range of protein products, performed very well in 2017, driven by ongoing organic volume growth and the development of new markets. Continued investment in Research and Development has enabled the launch of a range of specialised nutritional ingredients for the infant and sports nutrition markets, with a particular focus on Asia and North America. Mr. Hawkins stated that Carbery’s Nutrition team is very focused on the development of new valued added technologies and markets.

Taste Business – Synergy
Synergy, Carbery Group’s international taste division, is a leading supplier of flavourings, extracts and essences. It supplies customers around the globe from operations in Europe, North America, South America and Asia.

Innovation is central to the Synergy growth platform noted Mr. Hawkins, adding that the team is focused on investing in and delivering innovative Taste technologies to support Carbery’s global customer base.

The business once again delivered strong results in 2017, continuing to create value for Carbery shareholders.

Mr. Hawkins said that the global Synergy team is well equipped to continue to drive organic growth and value for shareholders while also being well positioned to take advantage of any acquisition opportunities that will further enhance the Group’s Taste platform.

Looking to the future
Commenting on the market outlook for 2018, Jason Hawkins said that Carbery Group is well positioned to continue to build upon the strong performance achieved in 2017.

“Dairy markets will prove more challenging for our dairy business and milk suppliers in 2018, particularly if EU supply growth continues at recent levels. We currently have our stability fund in place to support potentially volatile and weakened markets. At the same time the management team will continue to manage dairy commodity risk across the business. I am optimistic that longer term dairy demand is healthy and that Carbery will continue to create value for our shareholders through investment in research and development, new product opportunities and facility expansion to cater for planned growth,” he concluded.

Carbery expands tree-planting initiative with support from West Cork farmers

Carbery, in conjunction with SWS Forestry, has announced the latest phase of the Carbery Tree Project whereby a further 12,000 native Irish trees will be given free to West Cork farmers for planting on their farms.

The initiative, which is the first of its kind for Ireland’s dairy industry, was first launched by Carbery in March 2016 and aims to address climate change at a local level by offsetting carbon emissions.

Carbery Group has invested significantly in supporting its sustainability programme and is fully committed to continuing its strong focus on improving the environment and promoting sustainability.

Winner at The Green Awards 2018

Carbery have won the Sustainable Energy Achievement Award at The Green Awards 2018. Now in its tenth year, the Green Awards 2018 gala ceremony took place on Tuesday, February 20th in Dublin. Over the last decade, the Green Awards has welcomed hundreds of green organisations to its event and has rewarded many of the key innovators and leaders in best green practice in Ireland.

Carbery wins in three categories at Agribusiness Awards 2017

Carbery Group has won awards in three categories at the third annual Agribusiness Awards ceremony held recently in Dublin.

Dan MacSweeney, CEO received the Agribusiness Leader 2017 award, in recognition of his outstanding contribution to the growth of Ireland’s agribusiness sector.

Carbery Food Ingredients also won the Agribusiness of the Year category which recognised the organisation for its demonstrated excellence and innovation over the past 12 months.

In the Excellence in Sustainability category, Carbery won the top Award for its focus on sustainable development in the Agribusiness sector through the innovative and sustainable use of resources and prioritising the needs of the wider environment and society.

Launched in 2015, the Agribusiness Awards recognise and celebrate the most innovative organisations and individuals that have contributed to Ireland’s status as a global leader in this vital sector.

Jason Hawkins appointed new Chief Executive of Carbery Group

26 October 2017: Carbery Group has announced the appointment of Jason Hawkins as the new Chief Executive and a Director of the company. He will take over from Dan MacSweeney when he retires after 25 years as CEO at the end of December 2017.

Originally from Tralee, Co Kerry, Jason is currently Chief Operating Officer with Dairy Farmers of America (DFA), where he holds responsibility for the organisation’s global ingredients business. DFA is a leading milk marketing co-operative and dairy food processor with substantial cheese, ingredients and flavours businesses.

Prior to joining DFA, Jason had a long and distinguished career with the Kerry Group.  He joined Kerry Group’s Graduate Programme as an accountant in 1999 after graduating with a business degree from the Institute of Technology Tralee. The majority of Jason’s Kerry career has been spent in the United States in several leadership positions where he was responsible for the creation of the vision, strategy and overall growth for several of Kerry’s businesses in North America.

During his career with Kerry, including his most recent position as President of Beverages, Brands and Taste for North America, Jason successfully led and navigated the business to significant growth and profitability, obtaining and expanding Kerry’s leadership position within key markets and channels.

Commenting on his new role Jason Hawkins said he was delighted with the opportunity to join Carbery Group and work with the four West Cork supplier co-ops.

“I have, for a long time, admired Carbery as an organisation and am very much looking forward to further developing the successful business which the excellent team at Carbery Group has built,he said

Peter Fleming, Chairman of Carbery Group, said “Jason’s background with Kerry’s global ingredients business combined with his experience at Dairy Farmers of America make him very well suited to build on the strong foundations that are in place at Carbery.

I am confident that under his leadership the business will continue to grow and develop in the years ahead, delivering for the milk suppliers of West Cork.”

Exceptional success for Carbery at the 2017 International Cheese Awards

The International Cheese Show was held in Nantwich, Cheshire, this week.  Almost 6,000 cheeses competed across a range of classes.

Carbery had an exceptional show which included winning six gold, five silver and three bronze medals at the 2017 International Cheese Awards.

Carbery also won 2 Trophies (the Co-Operative Food Award for the Best Mature Cheese at the Show and Champion Convenience Cheese at the Show).

Carbery’s Mature Cheddar, Dubliner, Reduced Fat, Half Fat, Special Reserve and Sliced Black Pepper all won gold medals. Other cheese types such as Sliced Chilli and Special Reserve were awarded silver medals.

Exceptional success for Carbery at the 2017 International Cheese Awards

The International Cheese Awards is the largest cheese show in the world and is truly international in flavour, attracting an amazing 5,685 entries from 50 different countries in 2017. Winning these International Cheese Awards offers immeasurable prestige for our products – with endorsement from some of the best cheese judges in the world.

Carbery launches heat-stable 100% Whey Protein at Health Ingredients Europe 2016.

Carbery launched a great tasting 100% whey protein for ready to drink beverages at this years this year’s HiE exhibition in Frankfurt. Responding to the continuing demand for convenient, nutritious and tasty beverages that support health throughout life, Optipep® RTD can deliver a 10% pure whey protein content in RTD teas, coffees, juices and dairy beverages.

Carbery’s latest innovation means that for the first time, customers can use a great tasting 100% whey protein ingredient that can withstand pasteurisation, UHT treatment and a shelf life of up to 12 months while also providing a meaningful quantity of premium protein in each serving. Whey is widely regarded as the ideal protein source due to its amino acid profile and bioavailability.

Like all Carbery’s other whey proteins, it is manufactured from grass-fed whey, a natural and sustainable protein source.

Winner of 2016 Excellence in Sustainability at the the Agribusiness Awards

Carbery has won the 2016 Excellence in Sustainability Award at the the Agribusiness Awards ceremony that took place on November 26th, in Dublin. The Agribusiness Awards have been launched to celebrate and recognise the organisations and individuals who have contributed to Ireland’s position as a global leader in the sector.

Some of Carbery’s key sustainability initiatives include:

  • Commitment to Bord Bia Sustainable Dairy Assurance Scheme (SDAS)
  • The Carbery Greener Dairy Farms and the Digital Storytelling Initiative
  • Animal Health Ireland (AHI) partnership
  • Milk Supplier Tree Planting Programme
  • Our close connection with Co-Ops and the Community.

The award continues to build on the reputation of Carbery, and West Cork’s dedication to sustainability.