Lakeland Dairies acquires Taste Trends
Lakeland Dairies has announced the acquisition of Taste Trends, a UK-based maker of Coolicious branded fat-free frozen yogurts.
It is hoped that the acquisition will provide a strategic fit for both companies where each has unique capabilities relevant to the foodservice sector worldwide. It complements Lakeland Dairies’ dairy foodservice business where the co-operative plans to expand sales of Coolicious frozen yogurt products to international markets.
Taste Trends specialises in a range of product offerings including Coolicious soft serve frozen yogurts, frozen yogurt smoothie base, scoop frozen yogurt for milk shakes and fruit mixes for smoothies. The company also includes soft serve ice-creams, sorbets and granita semi-frozen drinks among its Coolicious branded products range.
Lakeland Dairies’ Chairman, Alo Duffy says, “Taste Trends is a long established and very progressive company with an excellent business model. I look forward to its continuing growth and success as part of Lakeland Dairies.”
Lakeland Dairies Group CEO Michael Hanley says, “We’re very pleased to make this acquisition. Taste Trends is an innovative business with an excellent base of foodservice clients. This includes market segments serving consumer demand for healthy refreshments including quick service restaurants, casual dining, general restaurants and catering.
“Frozen yogurts are natural and wholesome products and they are proving immensely popular with consumers. As a product category they are also perfectly aligned with global trends of healthy eating, natural dairy products and food customisation for specific consumer markets.
“Lakeland Dairies is the Irish and UK dairy foodservice market leader. We look forward to developing this new opportunity further across our international foodservice business using our well defined routes to market. We will also continue to examine the potential for further acquisitions where this would complement our business, enhance market reach and add value for our milk producers.”
