The announcement comes a month after the group sold a majority stake in the US speciality foods distribution business, DPI.

The cash bonus will be funded by the gain on that disposal and is expected to be paid in April/May this year, in addition to the existing cash bonus.

Ornua plans to open new routes to market for Irish dairy produce and has expanded and invested in numerous countries over the past 18 months, including the US, Saudi Arabia and Nigeria, where they recently opened a Kerrygold packing factory.

A new centre of excellence for Kerrygold is currently being developed in Mitchelstown, Co Cork, and is set to open this summer, employing over 50 people.

If you are interested in a career in the agri-industry, come along to the Irish Farmers Journal’s Agri Careers Fair, which takes place in the RDS on 3 March. For more information, click here