2 Sisters offloads its Green Isle Brands frozen food business

first_img2 Sisters offloads its Green Isle Brands frozen food businessPosted By: Martin Whiteon: March 12, 2019In: Business, Food, Industries, Mergers & AcquisitionsPrintEmail2 Sisters Food Group has offloaded its Green Isle Brands frozen food business to a consortium of investors led by the Ireland Strategic Investment Fund (ISIF) and backed by the former chief executive of Largo Foods, Maurice Hickey.Green Isle Brands operates the Donegal Catch and Green Isle Food brands, which sell products including frozen fish, frozen vegetable and frozen chips to consumers in the Republic of Ireland.Both brands will continue to operate under the Green Isle Foods banner, and the acquisition will secure over 100 jobs at the company’s manufacturing plant in Gurteen, Ireland and its offices in Naas, Ireland.The consortium claims that it will attempt to stimulate the growth of the Green Isle and Donegal Catch brands by targeting both the domestic and export markets, while building on existing strong market positions held by both brand in Ireland.Meanwhile, 2 Sisters Food Group claims that the sale “further strengthens the 2 Sisters Food Group balance sheet and demonstrates its commitment to its core strategy.”Ranjit Singh, president of Boparan Holdings, said: “We are pleased to announce the completion of the sale of the Green Isle Brands & Donegal Catch business to a good new home. Maurice Hickey is a highly experienced food CEO and we wish him and the team future success.“There have been a number of potential buyers for these companies, but as we always make clear, any sale has to be at the right time, with the right buyer, and it had to be a deal that fitted with our long-term strategy.“This transaction ticks all these boxes, and will help further simplify our business, enabling us to focus on our core and further strengthen our balance sheet.“With customers and consumers at the heart of everything we do, we will continue to focus on delivering great quality, great value products every day.”Mr Hickey added: “We are very excited about the opportunity presented by the Green Isle Foods business. It comprises quality brands with excellent market positions and offers a strong platform for growth.“The investor group comprises highly experienced business people and investors who have a strong appetite and commitment to the growth and development of Irish businesses.”Share with your network: Tags: 2 Sisters Food GroupDonegal CatchGreen Isle FoodsIrelandlast_img read more

FCPA Professor Turns 7

first_imgSeven years ago, I launched FCPA Professor with this simple mission statement.“After a decade-long private practice legal career focused on the FCPA, I am pleased to launch FCPA Professor in connection with my new academic career. To be sure, there are other websites and blogs which cover FCPA topics. However, FCPA Professor seeks to inject a much-needed scholarly voice into FCPA issues. Thus, in addition to covering the “who, what, and where” of FCPA enforcement actions, news, and legislative initiatives, this blog will also explore the more analytical “why” questions increasingly present in this current era of aggressive FCPA enforcement. The goal of this blog is thus to foster a forum for critical analysis and discussion of the FCPA (and related topics) among FCPA practitioners, business and compliance professionals, scholars and students, and other interested persons.”Seven years and 1,798 posts later, FCPA Professor is still here and the mission remains the same.An FBI agent recently wrote to me:“Dear Mr. Koehler, just wanted to thank you for all that you have done in the FCPA arena. I really enjoy reading your blog site. Your material and insight has really helped me develop a better understanding of FCPA. Greatly appreciate your efforts. Thanks.”Because of these and many other comments, I continue to plug away, inform and educate, and force readers to confront facts and legal authority, and not just mere narratives, relevant to the FCPA and related topics.What started out in 2009 as a “blog” has turned into a comprehensive website that has been described as “the Wall Street Journal concerning all things FCPA-related,” and “the most authoritative source for those seeking to understand and apply the FCPA.” Along the way FCPA Professor has been named a Top Law Blog for in-house counsel by Corporate Counsel, a Top 25 Business Law Blog by LexisNexis, and a top 100 Legal Blog by the American Bar Association.Doing anything every day for seven years straight has its ups and downs and the surprises, rewards and struggles are similar to those described in this 6th anniversary post.In short, running FCPA Professor takes time, money, and substantial effort, yet the content on FCPA Professor is provided free to readers (hundreds of thousands of readers each year from around the world).If I may ask one thing of readers on this occasion, it is to make this “relationship” more of a two-way street.Thus, if FCPA Professor adds value to your practice or business or otherwise enlightens your day and causes you to contemplate the issues in a more sophisticated way, please consider a donation to FCPA Professor to help celebrate this 7th anniversary.  Yearly subscriptions to other legal publications or sources of information can serve as an appropriate guide for a donation amount.  To donate click here.last_img read more