Mullinahone Co-operative has confirmed the acquisition of Co. Waterford based Abbey Rubber Mouldings Ltd. The terms of the deal were not disclosed by either parties.
Abbey Rubber Mouldings Ltd is a precision rubber moulding manufacturing company.
Tony Gunn, chair of Mullinahone Co-op said the acquisition is part of its strategy to expand its operation.
“The board and I are delighted with the addition of this new business platform, and it marks a further milestone in our mission to generate and deliver value to our customers and shareholders,” he added.
Founded in 1893, Mullinahone Co-op describes itself as “one of the longest established agricultural co-operatives in Ireland”.
Headquartered in Co. Tipperary the co-op operates a number of different divisions including its animal identification business Eurotags which it said “helps to provide visual and electronic identification options” on Irish farms for cattle, sheep and pigs.
It also has an agri wholesale division which supplies animal care, breeding aids, fencing and farm hardware products and has a separate pet grooming supplies
The co-op’s cheese business trades under the name Compsey Creamery and includes a milk processing and dairy production facility.
Acquisition
According to Martin Ryan, Mullinahone Co-op’s CEO, the new acquisition expands its business stable and offers growth opportunities. The co-op has also diversified into solar electricity generation projects.
“The integration of Abbey Rubber Mouldings Ltd into the Mullinahone business supports our vertical integration approach and provides us with another platform to grow and expand our presence inside and outside the farm gate.
“We eagerly anticipate collaborating with the experienced team at Abbey Rubber Moulding Ltd to further develop our business,” Ryan added.
Co-ops
According to Mullinahone Co-op it continues to make “a major contribution” to the local community in Mullinahone and to the Irish agricultural sector.
There are currently in the region of 130 co-operative enterprises across the country from dairy processing co-ops to co-op livestock marts.
It is estimated by the Irish Co-operative Organisation Society (ICOS) that these co-ops have more than 150,000 members and a combined turnover of €14 billion.