Irish food and drinks investor Kerga acquires German drinks company
Kerga is jointly owned by Irish investment companies BiaVest and Development Capital. It was established by the two groups for the sole purpose of acquiring and developing a pan-European food business.
It acquired Nomadic Dairy, which specialises in chilled snacks, from Donegal Investment Group in 2021 for an upfront consideration of €23 million.
Kerga generated revenue of €30 million in 2023, which was up from €27.7 million the previous year. It made a profit of €1.7 million in the same year, up from €1.1 million in 2022.
READ MORE
Münsterland has annual revenues in excess of €25 million. Kerga expects combined revenues in excess of €60 million from 2026. It said Nomadic and Münsterland are on track to sell over 100 million units across Europe next year.
BiaVest is a dedicated food-focused private investment fund founded by Hilliard Lombard and David McKernan in 2021.
IATA Director General Willie Walsh on airline profits, air fares and why the Dublin Airport passenger cap makes Ireland a laughing stock
Listen |
35:56
Its current revenue under management exceeds €100 million, and it employs more than 450 employees across its European-based portfolio of companies.
Development Capital is a €75 million development and growth capital SME fund established in 2013 by Andrew Bourg and Sinead Heaney. It is backed by Irish and international investors and has completed 15 investments to date.
Kerga said the acquisition of Münsterland was part of its strategy to build a European portfolio of nourishing convenience food and beverage businesses. Münsterland was established in 1889 and started developing milk-mix drinks in the early 1950s.
It sells iced coffees, protein drinks, and natural energy teas produced in a variety of sustainable glass and aluminium formats to brands, including Jimmy's Iced Coffee, in more than 20 countries.
Kerga said it sees 'significant growth potential' with Münsterland across both existing and new customers and markets.
It said the acquisition complements its investment in Nomadic Foods and further strengthens its overall manufacturing and market access infrastructure, including for Nomadic's convenience snacking portfolio.
Kerga said Nomadic, which is based in Killygordon, Co Donegal, is delivering 'strong growth' in the British and Irish markets. Kerga's growth strategy is supported by Bank of Ireland Corporate and Markets.
Kerga chief executive Alan Cunningham said the group has 'a clear roadmap' for further acquisitions and is focused on building a portfolio of premium brands and manufacturing assets in high-growth categories.
Kerga chairman and BiaVest co-founder Hilliard Lombard said: 'Our acquisition strategy targets businesses with proven revenues of €20 million-plus, strong track records, and clear scope for innovation and market expansion.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Irish Times
12 minutes ago
- Irish Times
Trade deal includes ‘zero for zero' arrangement for aviation, says Simon Harris
The agreed trade deal between the European Union and the United States has secured a 'zero for zero' arrangement for aviation, Simon Harris has said. The Tánaiste and Minister for Foreign Affairs and Trade wrote to the Government Trade Forum on Sunday night to say that while a 15 per cent baseline tariff was 'regrettable', it was the maximum tariff that could be imposed on the pharmaceutical sector even after the US administration's investigation into the sector's imports. He also confirmed that a 'zero for zero' agreement had also been secured for certain aircraft components, agricultural products and chemicals. The details were included in a letter sent by Mr Harris to the trade forum, which includes Government Ministers, State agencies, business organisations and trade unions. READ MORE In the letter, Mr Harris said that Sunday's agreement between European Commission president Ursula von der Leyen and US president Donald Trump in Scotland will 'avoid tariffs of 30 per cent being imposed by the US on August 1st and will also avoid the EU imposing its own countermeasures'. Mr Harris described this as 'much-needed certainty for Irish, European and American businesses who together represent the most integrated trading relationship in the world'. 'While ultimately it is regrettable that the baseline tariff of 15 per cent is included in the agreement, it is important that we now have more certainty on the foundations for the EU-US trade relationship, which is essential for jobs, growth and investment. President von der Leyen described this as 15 per cent tariffs across the board and all-inclusive,' he said. 'We will examine the detail of the agreement in the coming days but it is our understanding from president von der Leyen that this rate of 15 per cent is a ceiling on any potential tariffs that may be imposed following the conclusion of the section 232 investigations, including those relating to pharmaceuticals and semiconductors. The EU will continue to work with the US to underline the closely integrated nature of the EU and US pharmaceutical sector.' 'While the baseline tariff is 15 per cent, there are important exclusions from that, including a zero-for-zero arrangement on aviation. Ireland had made the case throughout these negotiations for zero-for-zero arrangements in as many sectors as possible.' [ EU pushing to cap future tariffs on pharma in US deal Opens in new window ] 'The commission president has also confirmed that there has been agreement on zero tariff levels on a number of key strategic products – including all aircraft and component parts, certain chemicals, certain agricultural products, semiconductor equipment, natural resources and critical raw materials. As the framework negotiations continue, the EU will keep working to add more products.' He told the forum that the Irish Government will now be examining the 'full implications' of the agreement on the all-island economy, including any differential tariff rates on either side of the Border. He said the Government will also now be looking into the 'implications' of a 15 per cent tariff rate.
Irish Times
2 hours ago
- Irish Times
Call for Government to urgently support Irish businesses most at risk from US tariffs
Social Democrats finance spokesman Cian O'Callaghan says the Government must publish an updated summer economic statement to account for the EU 's tariff agreement with the US . In a statement on Sunday evening, Mr O'Callaghan welcomed a deal that 'avoids a catastrophic trade war', but said it is 'beyond doubt . . . that a 15 per cent tariff rate will be very damaging for many Irish businesses'. 'It is less than a week since the Government published its summer economic statement, using an assumption of no tariffs,' he added. 'This was despite the dogs on the street being aware that a 10 per cent tariff rate was the best possible outcome.' Mr O'Callaghan was one of a number of figures in Irish politics to publish statements regarding the trade deal on Sunday evening. Labour leader Ivana Bacik called on the Government to engage with Irish businesses, warning that continued uncertainty around pharmaceutical exports is evidence of 'just how difficult it is to engage constructively with the Trump administration'. READ MORE 'We in Labour are calling on the Government to fast-track the development of a new, modernised short-time work scheme to ensure that skilled jobs are not lost in sectors under pressure,' Ms Bacik said. 'Other EU countries have long-standing schemes that help employers retain staff during economic shocks. We need a system in place in Ireland that can respond to future volatility or sectoral downturns quickly and effectively.' Taoiseach Micheál Martin welcomed the agreement, saying it 'will help to protect many jobs in Ireland'. He added that it 'brings clarity and predictability to the trading relationship between the EU and the US – the biggest in the world". Mr Martin acknowledged that higher tariffs will make trade 'more expensive and more challenging' but said that the agreement 'creates a new era of stability that can hopefully contribute to a growing and deepening relationship between the EU and the US'. [ EU-US deal good for Ireland as it averts trade war but vital details remain unclear Opens in new window ] The Taoiseach pledged to study the details of the agreement, including its implications for Irish businesses exporting to the US and for other sectors operating here. 'Given the very real risk that existed for escalation and for the imposition of punitively high tariffs, this news will be welcomed by many,' his statement concluded. There were further calls to support Irish businesses from Sinn Féin spokesperson on foreign affairs and trade, Donnchadh Ó Laoghaire. 'Ultimately, while a deal is preferable to tit-for-tat tariffs, the reality is, tariffs of this kind are bad for businesses, consumers and workers,' he said. 'We need to take the necessary steps to support our indigenous businesses, to increase exports to new markets, to grow talent across the island and to trade across the island and internationally." Tánaiste and Minister for Foreign Affairs Simon Harris echoed the Taoiseach in welcoming the transatlantic trade agreement, noting that European Commission president Ursula von der Leyen described the 15 per cent tariff rate as 'all-inclusive'. 'While Ireland regrets that the baseline tariff of 15 per cent is included in the agreement, it is important that we now have more certainty on the foundations of the EU-US trade relationship, which is essential for jobs, growth and investment,' Mr Harris said. Finally, Danny McCoy, CEO of business lobby Ibec, said the trade agreement represents a 'substantial burden for many industries', particularly those relying heavily on the US market to operate. 'Our message to the Government, as it was with the 10 per cent tariff, is that the most exposed sectors will require support similar to the interventions provided as a response to Brexit,' Mr McCoy said.
Irish Times
3 hours ago
- Irish Times
The Irish Times view on the EU/US trade deal: a step towards economic stability
The agreement of an outline trade deal between the EU and the US is positive, to the extent that it avoids the risk of a full-scale tariffs war between the two sides. For Ireland, the EU state most exposed to US trade and investment, this could have been particularly damaging. What the EU has been dealing with here is damage limitation. Average tariffs of 15 per cent on EU imports into the US - a central part of the deal - are roughly three times the rate that applied when Donald Trump came to office. This will cause economic damage on both sides of the Atlantic. Whatever Trump's objections are to the way the EU treats US imports, dealing with them this way ensures US consumers will pay more for their goods, as well as damaging Europe. Trump is claiming the deal, which also includes promises of EU purchases of US energy and military equipment, as a triumph. And he did get a lot of what he wanted. Perhaps driven in large part by the desire to see continued US support for Nato and Ukraine, the EU has been on the back foot. It has been faced by a US president pursuing a relentless tariff agenda, partly driven by economic nationalism and partly by the need to raise cash for the US exchequer. The main gain for the EU – and for Ireland - of the outline deal is that it avoids the risk of a trade war, which would have had unpredictable and dangerous consequences. Trump had threatened a general tariff level of 30 per cent to apply from next week on EU imports and, had there not been a deal, the EU had a list of US goods ready on which it planned to impose tariffs. This could have escalated quickly, potentially drawing in US digital tech companies, many with international bases in Ireland. READ MORE Details have still to be spelled out on how the 15 per cent tariffs will be applied and these will be important. The impact will vary across different sectors of exporters from Ireland to the US and will be difficult in some areas. It may be some weeks before this is clear. Importantly for Ireland, Trump has said a separate process examining what should happen to the pharma sector will continue and he again underlined that he wanted key drugs and ingredients made in the US. While there was some uncertainty on this in the immediate wake of the deal, the risk of higher tariffs in this area, or other action to try to get pharma companies to relocate production to the US, appears to remain. And while European Commission president Ursula von der Leyen said that in general the deal would bring 'stability', the final details have still to be agreed and published. With Trump in office, uncertainty will remain. However, it is still better to have a basic deal which, provided it holds, will now start to restore some level of certainty to trade between the US and EU.
