Written by Iain Hoey
Global agri-tech company Devenish has announced plans to raise capital in order to strengthen its international growth plans and capitalise on industry trends.
The sustainable food solutions provider, which carries out research and development in health and sustainability throughout the food chain, has appointed Goodbody as its financial advisers to explore a number of options with potential financial investors and industry partners.
It has said it is actively exploring partnership opportunities within the food and feed industries across the globe as part of its international growth strategy.
Talking about its recent growth, Richard Kennedy, chief executive at Devenish, said: “In the US, we will have grown from two manufacturing sites when we first started there, to six, by the end of this year. We are also growing in emerging markets, expanding our operations in Mexico and setting up new business in the Latin American region and elsewhere.
And on changes in the industry, he also commented. “The pandemic has highlighted for policymakers the importance of health and nutrition, including having a better understanding of where our food comes from.
“Over the coming decades there are huge opportunities for companies that are delivering solutions in terms of sustainable food production, and responding to the demand for authentic and transparent supply chains.”
Devenish is a provider of environmental, animal and human health solutions, with headquarters in Belfast and across Ireland, the UK, USA, Turkey and Uganda, employing over 750 people globally and trading in over 40 countries.
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