Donegal company, Nomadic Dairy has been sold in a €29m deal.
Specialist food investment group BiaVest has partnered with Development Capital to acquire the company from Donegal Investment Group.
Nomadic Dairy, currently employs 80 people in Killygordon supplying multiple products across the UK and Ireland.
BiaVest will hold a 54% stake and Development Capital a 46% share in the company.
The company, established in 1998, has grown its revenues by over 50% in the past four years, adding to its product range and expanding across the grocery, convenience and food service distribution channels.
Nomadic Dairy has become the number one yogurt brand in Great Britain and Northern Ireland.
The partnership between BiaVest and Development Capital includes funding from Bank of Ireland.
The company’s Managing Director, Alan Cunningham and his team are set to remain with the business to work with the new owners.
BiaVest CEO Hilliard Lombard has confirmed that along with Development Capital, they will be investing in the company as well as working with the current team to drive the next stage of growth for the business.
