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Formed after the 2000 merger of North Connacht Farmers Co-operative (itself an earlier amalgamation of smaller creameries in the North West) and Kiltoghert Co-operative Agricultural & Dairy Society, [3] by 2021 it had over 10,000 farmers members and reported an operating profit of €12.6 million from a turnover of €570.2 million. [2]
The agricultural cooperative was a relatively new idea to Ireland, but by 1894 there were already numerous examples of cooperatives operating, especially in south-west Ireland. The first creamery co-op had been established in Dromcolliher in 1889, while Plunkett was involved in setting up the second in Ballyhahill in 1891. [9]
It is Ireland's second largest dairy co-operative. Ornua from the Irish "Ór Nua" meaning "new gold" (known as The Irish Dairy Board from 1961 to 2015) is an Irish Statutory agricultural cooperative , which markets and sells dairy products on behalf of its members: Irish dairy processors and Irish dairy farmers.
The IAOS was re-organised and renamed as the Irish Co-operative Organisation Society to reflect these changes in the Irish economy. [ 2 ] Today, ICOS member co-ops and their associated companies have more than 150,000 individual members, 12,000 employees in Ireland, a further 24,000 abroad, and a combined annual turnover of €12 billion. [ 3 ]
To realise the benefits of scale and diversification, the 1960s many of these small, locally focused co-operative Creameries across Ireland amalgamated. Waterford Co-op Society was formed in 1964 upon the amalgamation of Kilmeaden Co-operative, Carrick on Suir Co-operative, Dungarvan Co-operative, Gaultier Co-operative and Rathgormack Co-operative.
In 1986, a significant milestone in the formation of the public limited company involved the Group acquiring the undertaking, property and assets of Kerry Co-operative Creameries and as a consideration 90 million ordinary shares in Kerry Group plc being issued to the Co-op. [4] It floated on the Irish Stock Exchange at a price of 52p per share. [5]
Kerry Co-Operative Creameries is an Irish agricultural co-operative society whose primary activity as of 2022 is the holding of investments on behalf of its farmer-members, with its largest investment being a 11.3% holding in Kerry Group, [1] a publicly traded company which was originally founded by the co-operative but now has a diverse shareholder base.
Ornua, [3] from the Irish "Ór Nua" meaning "new gold" (known as The Irish Dairy Board from 1961 until 2015), is an Irish agricultural cooperative, which markets and sells dairy products on behalf of its members: Irish dairy processors and Irish dairy farmers.