What does Coolmore Foods do?
The business was founded in 1988 out of our farmhouse making products that were never seen before in Ireland, such as chocolate fudge, toffee fudge and carrot cakes. Over 10 years, the business grew and became the brand leader in its category.
We then bought a site from the IDA in Bandon and built a factory, which brought our business to a different level.
Why did you decide to export?
By 1998, the business was well established. We recognised that export was really key to drive on the business. We started in the UK initially by targeting farm shops, corner shops and independent stores.
We’ve since moved into The Netherlands and Denmark. Austria has been very strong for us. We’re also selling into Dubai, Malta, Cyprus and Spain.
We’ve very recently entered the German market. Exports now account for over 50% of the business.
How have you invested in the business?
In 2005, we invested very heavily in automation in the factory. Labour was becoming very expensive and it was difficult to get good workers.
We installed an auto-bake system which gave us credibility and made us very competitive. We’ve just completed a €0.25m investment in a new product development centre.
Why did you sell the business?
There comes a time when you feel you can only bring a business so far on your own. Lisavaird Co-op approached me about buying the business in 2014. They have been fantastic partners to work with and have backed us to the hilt.
They have really been willing to spend money on improving the company and are very much about developing local jobs.
What’s the biggest challenge facing your business?
The food industry is very nervous about Brexit. We’ve altered our strategy to really focus on our European customers.
We’ve put a heavy emphasis on Europe in the last year, particularly on Germany. We’ve recently won listings with the German retailer Norma and also at REWE, the largest supermarket in Germany.
Where do you see the greatest opportunity?
Germany is a vast market but it’s ultra-competitive. They have a long tradition of high-quality bakery stores, which are actually quite expensive.
But at retail level the product offering for consumers is very basic and mass-produced. They don’t offer that higher-quality, more indulgent type of cake that Coolmore produces.
Will German consumers pay a premium for quality food?
Northern European consumers are among the wealthiest in the world but equally they can be very conservative when it comes to groceries. German consumers are often quite frugal when it comes to food. Our products will retail at double the price of the competition.
We’re trying to break that habit and get them to spend extra on a more indulgent type product.
Read more
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20 mins with Jane Downes and Natalie Bagnall
What does Coolmore Foods do?
The business was founded in 1988 out of our farmhouse making products that were never seen before in Ireland, such as chocolate fudge, toffee fudge and carrot cakes. Over 10 years, the business grew and became the brand leader in its category.
We then bought a site from the IDA in Bandon and built a factory, which brought our business to a different level.
Why did you decide to export?
By 1998, the business was well established. We recognised that export was really key to drive on the business. We started in the UK initially by targeting farm shops, corner shops and independent stores.
We’ve since moved into The Netherlands and Denmark. Austria has been very strong for us. We’re also selling into Dubai, Malta, Cyprus and Spain.
We’ve very recently entered the German market. Exports now account for over 50% of the business.
How have you invested in the business?
In 2005, we invested very heavily in automation in the factory. Labour was becoming very expensive and it was difficult to get good workers.
We installed an auto-bake system which gave us credibility and made us very competitive. We’ve just completed a €0.25m investment in a new product development centre.
Why did you sell the business?
There comes a time when you feel you can only bring a business so far on your own. Lisavaird Co-op approached me about buying the business in 2014. They have been fantastic partners to work with and have backed us to the hilt.
They have really been willing to spend money on improving the company and are very much about developing local jobs.
What’s the biggest challenge facing your business?
The food industry is very nervous about Brexit. We’ve altered our strategy to really focus on our European customers.
We’ve put a heavy emphasis on Europe in the last year, particularly on Germany. We’ve recently won listings with the German retailer Norma and also at REWE, the largest supermarket in Germany.
Where do you see the greatest opportunity?
Germany is a vast market but it’s ultra-competitive. They have a long tradition of high-quality bakery stores, which are actually quite expensive.
But at retail level the product offering for consumers is very basic and mass-produced. They don’t offer that higher-quality, more indulgent type of cake that Coolmore produces.
Will German consumers pay a premium for quality food?
Northern European consumers are among the wealthiest in the world but equally they can be very conservative when it comes to groceries. German consumers are often quite frugal when it comes to food. Our products will retail at double the price of the competition.
We’re trying to break that habit and get them to spend extra on a more indulgent type product.
Read more
Dairy trends: GDT finishes 2017 on a sour note
Profits fall at Northern Ireland-based Mash Direct
20 mins with Jane Downes and Natalie Bagnall
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