Fane Valley’s takeover of Silver Hill Foods will secure the future of the Emyvale company and see future investment. News of the acquisition was announced this morning, with the Steele Family selling the company for an undisclosed sum.
Emyvale’s Silver Hill Foods has been acquired by Fane Valley. The company has grown since first founded in 1962 and now employs 240 people.
This announcement has been described as “a good news story for employees… for Emyvale and for growers, suppliers and customers” according to Stuart Steele. Silver Hill Foods was set up by his parents 56 years ago.
A new Centre of Excellence was opened at the Emyvale headquarters in 2016, with 70 per cent of its products exported to countries including the UK, Germany, Singapore and Hong Kong. The current management team will remain in place, with directors representing Fane Valley joining the board.
Chief Executive of Fane Valley Trevor Lockhart says the company is “committed to future investment in facilities in Emyvale”. Fane Valley is a farmer owned co-op, focused on the agri-food business based in Moira, County Down. It has a turnover of £525 million and employs 2,300 people.
CEO of Silver Hill Foods Micheál Briody told Northern Sound that the deal will see future investment at the company’s facilities: