Tipperary cheese producer Cashel Blue was honoured with a Special Award at Bord Bia’s Food and Drink Industry Awards, in recognition of their co-branding or ‘co-opetition’ initiative with Kerrygold in the US market.
Bord Bia is actively supporting the principle of co-opetition, where food companies work together to create synergies resulting in cost savings, improved returns and/or increased market distribution.
As part of the initiative, the Irish Dairy Board, owners of the Kerrygold brand, has joined forces with Cashel Blue in a new co-branding and distribution agreement to build brand awareness and market share in the US.
Speaking at the event Aidan Cotter, Chief Executive, Bord Bia commented - “This is an excellent example of co-opetition as a business strategy and how a large multinational company can collaborate with a smaller player to develop a mutually beneficial brand offering. Kerrygold has added an artisan product to its portfolio while Cashel Blue is leveraging on an established international brand with global distribution channels. It’s a win-win situation and we look forward to working with more companies on this exciting new model to develop our exports further.”
The dairy sector is expected to contribute as much as half the total growth in Irish food and drink exports this year, growing by well in excess of 20% or €0.5 billion. The volume of dairy exports is projected to grow by some 50% once EU quotas are lifted in 2015.
Eight Irish companies in all were honoured at the Bord Bia awards ceremony in Trinity College. Speaking at the event, Michael Carey, Chairman, Bord Bia said - “In spite of all the challenges we face – it is also probably the most exciting time ever to be in our industry. The increase in exports would be impressive at any time but against the backdrop of global economic uncertainty and our own domestic difficulties it is truly remarkable. Equally remarkable are the achievements of the award winners, who have demonstrated success in areas critical to future growth, from innovation and branding to sustainability and entrepreneurism”.