Inside Ingredient Solutions

Ian Galletley, Ingredient Solutions co-founder, was a director, shareholder and member of the team that built Dairyborn Foods Ltd in the UK, selling to Golden Vale for £10 million in February 1999.

Ingredient Solutions, set up in 2000, provides innovative cheese ingredients & products across many sectors of the food industry. They have an extensive customer base including two of the wold’s largest global franchise chains and hundreds of ready meal, fast food and food on the go outlets. Products using their cheese are on virtually every supermarket shelf in the United Kingdom and Ireland; in a fast food outlet in every major town and city throughout Europe; at 30,000 feet and upwards on several major international airlines; on cruise liners, trains, sandwich bars, pubs, hotels, restaurants, schools and delivered in ‘meals on wheels’ format to tens of thousands of homes. Their cheese goes into hundreds of everyday products that are eaten by tens of thousands of consumers every week.

The business is growing fast. Turnover has doubled in the past five years and projected to continue at a similar rate of growth in future.

Strengths Strengths

  • Loyal, fast growing international customer base
  • Substantial six figure investment in production facilities
  • Pushing tens of thousands of tonnes of cheese through the factory gives strong purchasing and production efficiencies

Weaknesses Weaknesses

  • Supporting the current growth trends will require additional capital investment
  • Further penetrating international markets will need even more management resource
  • Will require to move to a new production shift pattern to keep up with demand

Opportunities Opportunities

  • Company operates in some of the fastest growing segments of the food industry
  • Exports have grown at a faster rate than home sales and the potential is enormous
  • New investments in sales and sales support will continue to bear fruit

Threats Threats

  • Dairy market disrupted by Russian sanctions & continuing milk oversupply
  • Retaining our position as preferred supplier to key global customers will require us to maintain investment in our people
  • Business environment getting tougher by the day

5 Year Performance Review

Sales Volume

+110%

Exports

+25%

Margin Improvements

+10%

Dairy Market Update Q3 2017

Ian Galletly

In our last market update we reported of prices easing and a period of relative stability in the dairy industry. Wishful thinking! All the usual logic that says the start of milk production should bring lower prices has gone swiftly out of the window due to an unprecedented shortage of butter.

Ian Galletly