O’Brien Fine Foods, owner of the Brady Family ham business, is acquiring a Co Meath supplier of cooked meats in a deal worth upwards of €5m.
The Kildare-based company is finalising the purchase of Faughan Foods, which employs over 80 people and supplies processed turkey, chicken and beef to retailers in Ireland and the UK. Faughan Foods is part of Hogan’s Farm, a family-owned company that rears and processes more than 100,000 turkeys a year.
Hogan’s Farm will continue to supply fresh turkey to Faughan Foods as part of the deal. The takeover of Faughan Foods is subject to approval from the Competition and Consumer Protection Commissioner.
John O’Brien, managing director of O’Brien Fine Foods, said the takeover was part of an ongoing expansion of the business, and would take it into the white meat sector. As well as the Brady Family brand, it owns Rudd’s, which makes sausages, bacon and black pudding.
Faughan Foods, which is owned by Paul and Fintan Hogan, was valued at €5.1m in a recent share reorganisation, according to documents filed at the Companies Office. The company had accumulated profits of €324,400 at the end of March 2015.
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O’Brien Fine Foods employs almost 400 people at factories in Timahoe, Co Kildare, and Birr, Co Offaly. The company announced a €14m investment in its ham processing operations a year ago, creating 40 new jobs.