Monaghan Mushrooms

October 21, 2009 13:57 ET

Monaghan Mushrooms Finalises Purchase of Ontario Mushroom Farm

Announced in conjunction with the Enterprise Ireland Trade Mission to Canada led by the Deputy Prime Minister Mary Coughlan T.D.

TORONTO, ONTARIO--(Marketwire - Oct. 21, 2009) - Monaghan Mushrooms (MM) today announced the company is finalising the purchase of the Essex-Kent Mushroom business of Rol-land Farms which includes the mushroom production and distribution facility at Campbellville, ON.

Accompanying the purchase is a long-term commitment to the development of the site. The total investment in the next two years will see Monaghan Mushrooms investing $26 million (inclusive of the purchase price) at the Campbellville facility. The total investment includes the purchase price of assets, stock and work in progress.

This acquisition will secure the future of approximately 300 employees. In the fall of 2011 when the investment is complete, the company anticipates employment numbers will grow to between 400 and 500.

With a projected annual turnover of $35 million, this acquisition will enable Monaghan Mushrooms to make a significant contribution to the Canadian mushroom industry. Strongly committed to Research and Development, the company is especially delighted to be acquiring the R & D capability at Campbellville. As part of its global R&D program, MM will continue to invest in development work at Campbellville.

Monaghan Mushrooms will work closely with the mushroom industry bodies such as Mushrooms Canada and American Mushroom Council to develop the industry and to further demonstrate to consumers that mushrooms are healthy. Monaghan Mushrooms is already working in association with the Mushroom Global Health Initiative, and under the guidance of the United States National Institute of Health (NIH) and the USDA. This work has been made possible through Enterprise Ireland's biotechnology directorate. Monaghan Mushrooms has enjoyed the support of Enterprise Ireland over their 25-year history.

Monaghan Mushrooms is a leading grower and marketer of mushrooms with 1,400 employees in Europe. In the UK, Europe's largest and most competitive mushroom market, the company is the market leader with 45% market share.

Contact Information

  • Media Contact:
    Monaghan Mushrooms
    Tyholland, Co. Monaghan, Ireland
    Stephen Allen, Group Marketing Manager
    + 44 7917 851651
    s.allen@monaghan-mushrooms.com