Heinz factory in Dundalk sold to The Authentic Food Company

The Heinz factory in Dundalk

The Heinz factory in Dundalk has been sold to a Manchester-based food company.

The deal between the Authentic Food Company (TAFC) and Heinz includes a three-year arrangement for TAFC to manufacture the Weight Watchers meals developed by Heinz.

The two businesses will also work on developing new frozen products for the same range, with none of the firm’s 155 jobs thought to be affected by the takeover.

TAFC, which is family owned and managed, is celebrating its 30th anniversary this year.

News of the sale emerged in December, with the deal now finalised for an undisclosed sum. The factory in the Finnabair Industrial Estate off the Inner Relief Road was opened in 1993 and is one of the biggest employers in the town.

Nik Basran, TAFC managing director, said the deal was an investment in the food manufacturing sector in Ireland.

“The strategic acquisition of this well invested site at Dundalk adds many new capabilities to our offer; including pasta, fish dishes and potato topped products,” Mr Basran said.

“The proposed sale offers a positive future for the facility and for the 155 people employed at the site.”

The terms of the sale have not been disclosed.

TAFC, which was set up in 1985, is family owned and headquartered in Manchester.

The company has 240 employees, with this deal bringing the number of employees to around 395. It said it was planning the expansion of its food service and retail business both in the UK and Europe.

“We have invested heavily in our sites and people in the UK over the last five years and this is very much more of the same, albeit on a much bigger scale, to ensure we are equipped to respond to evolving customer needs,” added Mr Basran.

Heinz to sell Dundalk site to The Authentic Food Company for undisclosed sum

The Heinz factory in Dundalk

Heinz is set to sell its frozen ready meals manufacturing site in Dundalk to The Authentic Food Company for an undisclosed sum.

The factory in the Finnabair Industrial Estate off the Inner Relief Road was opened in 1993 and produces the WeightWatchers from Heinz, Ross and Heinz Big frozen ready meal ranges. It currently employs 155 staff.

The proposed deal includes a three-year co-pack arrangement for The Authentic Food Company to continue to manufacture the products, with all Heinz staff expected to be retained under the new ownership arrangements.

In a statement, Heinz said it planned to continue working closely with The Authentic Food Company “to further develop the WeightWatchers from Heinz range, in addition to reviewing future opportunities for Heinz in frozen.”

The Manchester-based Authentic Food Company said it had plans for the continued expansion of its retail and foodservice business both in the UK and continental Europe “with the enhanced capability and capacity the site acquisition delivers.”

DFP Group acquire two new financial services firms

Pictured at the announcement of the deal are: Aoife McCarthy, director, DFP Group; Michael Bollard, managing director, Bollard Financial Services; Eoin Doohan, group managing director, DFP; and Brendan Nordon, group actuary DFP.

Dundalk-based DFP Group, one of the north east’s largest pension and investment consultants recently announced the acquisition of Bollard Financial Services and Doody Crowley Financial Services in Dublin.

Both Bollard Financial Services and Doody Crowley Financial Services are long established financial advisory firms with over 25 years’ experience advising both private clients and companies in all aspects of investment and retirement planning. These acquisitions further strengthen the DFP Group’s commercial footprint within the greater Leinster region.

Eunan O’Carroll of Core Consulting who managed the deal for the Quayside Business Park-based DFP Group said: “This deal represents a win-win situation for all firms involved. Given the likely changes to the business model as a result of pending regulation and the changing commercial focus of the larger product providers, financial advisory firms will require significant investment is systems and resources, if they are going to transition their business to the new model advisor approach that will emerge in the next two years.”

Commenting on the acquisition to Business and Finance, Eoin Doohan, group managing director of DFP Group said: “We are delighted to welcome Bollard Financial Services and Doody Crowley Financial Services as part of the DFP Group. These are strategic acquisitions on our part and they will ensure we remain one of the leading independent financial advisory practices within the Irish market with combined assets under management in excess of €175m.”

Michael Bollard, a well-known financial services practitioner in Dublin for many years and director of Bollard Financial Services said: “This deal further strengthens our capacity to deliver a highly professional financial advisory services to all our clients and ensure we are best placed to deal with the changing market dynamic that will emerge in the future as a result of further European regulation enforcement.”

Bollard Financial Services will now be rebranded as BFS Pension & Investment Consultants and trade under the DFP Group of companies.