Ireland's Cappoquin Chickens will remain in business after High Court approval of a group of investors in partnership with Cappoquin Poultry Producers Co-op acquiring the business. The creditors will invest €650,000 to acquire Cappoquin Chickens, a move which is expected to save roughly 70 of 140 jobs, according to reports.
"There is a substantial market in the UK and Irish food service sectors and in the butcher trade for high quality Irish poultry products offering value and traceability," said Dr. Sean Brady, newly appointed chairman of Cappoquin Poultry Holdings Ltd. "The Cappoquin business, now under new ownership, will drive forward with determination to service these markets and to grow the business to its full potential. The processing facility in Cappoquin, Co. Waterford, can process up to 11 million chickens a year. It also produces chicken in accordance with Halal regulations, respectful of the Islamic faith. We aim to significantly expand the export of Halal processed chicken into the UK and Europe, where there is substantial export opportunity, with many retail multiples in the larger cities and towns stocking Halal produced meats."
While the company's current situation necessitates temporary layoffs, Cappoquin's new managing director, Raymond O'Hanlon, said he hopes the company is soon in a position to re-build employee numbers. "We believe that by strengthening our sales/marketing function and by streamlining the business, we can create a solid foundation which will allow us to consolidate our position in both the Irish and British markets, and to grow new export opportunities in continental Europe," said O'Hanlon.