IDB buys into Saudi Arabian firm

The debt-free' dairy giant is to take on the Middle East and North Africa region,

27th October, 2013
Kevin Lane, chief executive of the IDBTony O'Shea

The Irish Dairy Board (IDB), the Euro 2 billion diary operation owned by a number of Irish co-ops, is to acquire a majority shareholding in a Saudi Arabian company, its first acquisition in the Middle East and one of its biggest yet. The acquisition – a 75 per cent interest which has been in the pipeline for a number of months – is the first step in the development of a ''manufacturing hub'' by IDB...

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