Over €150m was invested by foreign companies in the Irish agri-food sector in 2013, Enterprise Ireland has confirmed to the Irish Farmers Journal.

As well as record levels of investment, in the region of 300 new jobs were created by overseas companies investing in food here – about one third of all new jobs created in the food sector.

“Overall, 2013 was a good year for investments in the food sector,” David Butler of Enterprise Ireland said.

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“Perhaps the most pleasing aspect of the investments is that the companies that have invested use 70% local produce and resources, so it’s a big win for the local economies too,” he added.

Companies like Danone, Pernod Ricard and Ferrero Rocher were among a group of foreign companies that invested in the Irish food sector last year.

Butler said it is the role of Enterprise Ireland to marry food companies from home and abroad with companies from different sectors to bring “added value to the food chain”.

“We’re good at sciences, technology and food. It’s about bringing all those together to bring added value to the food we produce. It’s not just about branding and actual brands, it’s about business-to-business and how we can bring two companies together that will drive investment for the sector and the country,” he said.

Enterprise Ireland has long been about facilitating companies starting up and developing in Ireland, but for food the emphasis has shifted recently towards looking at foreign companies.

“Food is a bit of anomaly. It’s not just about getting companies set up here, it’s about bringing other companies into Ireland. We are proactively targeting food companies, be that in dairy, consumer food, seafood or something like whiskeys. We go after companies who are operating at a global level and ask them what their plans are and how Ireland can assist them in their development,” Butler said.

Butler also said there are natural opportunities for the dairy sector as we approach the removal of quotas.

“The dairy sector is a real growth area, especially milk powders. There’s a global demand for the powder we produce,” he said.