Business

One of the most trusted leaders in advertising, Ogilvy & Mather , has been appointed as an agency partner to the Jacob Fruitfield Food Group since January 2010. The agency will create new advertising campaigns for brands such as Jacob’s Cream Crackers, Kimberly, Mikado, and Coconut Creams.  It will also work on Jacob Fruitfield’s other brands, including Chef and Fruitfield. “We relish the exciting prospect of developing the truly iconic campaigns that these well-loved Irish brands deserve,” said Gervaise Slowey, managing director of Ogilvy & Mather. According to Jacob Fruitfield, the company plans to invest heavily in building its top brands in 2010, “Advertising has always played a key role in the success…

Share receiver appointed over Quinn family shares Anglo Irish Bank, which will remain a minority shareholder in Quinn Group, has appointed a share receiver over the Quinn family’s shares in the group. The share received has already appointed a number of non-executive directors to the board of directors of Quinn Group. As a result, Sean Quinn and the Quinn family will no longer have any role in the management, operations or ownership of the Quinn Group. A share receiver takes control of the shares only, and not the assets, businesses or employees of the Quinn Group. The share receiver has also been appointed to the Quinn family’s international property group. Minister for…

Viagogo Group, the operator of ticket marketplace Viagogo.com, has announced plans to open a new purpose-built operations center in Limerick. The investment is supported by the Department of Jobs, Enterprise, and Innovation through IDA Ireland. The new operations centre is recruiting for a range of technical and customer service roles for people with a range of skills and languages, including German, French, Italian, and Spanish. While the new centre is due to open later this year, those who have already been recruited are currently based at a temporary location in the city centre. “We reviewed many locations for our latest operations centre but we chose Limerick for its reputation as a place of excellence and local talent,” said Edward…

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Generic pharmaceutical company Aspen has announced its decision to make Dublin its centre of excellence for a range of global and EMEA activities and to create an additional 44 high quality jobs bringing its total workforce in Ireland to 58. The investment, which is being supported by the IDA, was announced this morning by Minister for Jobs, Enterprise and Innovation, Richard Bruton TD. The company first established an operation in Ireland in 2010 and this has now become Aspen’s European marketing and supply chain headquarters. In addition, the company is now establishing a global regulatory, pharmacovigilance, quality assurance and supply projects centre of excellence in Citywest.. Aspen is one of the largest generic…

Valeo Foods agrees Jacob Fruitfield purchase Valeo Foods has announced that it has reached agreement to acquire Jacob Fruitfield Food Group for an undisclosed amount. The deal is subject to regulatory approval. Set up 2010, Valeo is made up of a growing portfolio of Irish consumer brands, including Batchelors, Odlums, Shamrock, Sqeez, Roma, Erin, Amigo, Lustre and Picnic. The company also offers route-to-market services for several international consumer brands. Jacob Fruitfield includes Fruitfield Foods, which was bought from Nestl� in 2002, and Irish Biscuits, which was purchased from Groupe Danone in 2004. Among its consumer brands are Jacob’s biscuits (Fig Rolls, Kimberley, Mikado and Coconut Creams), Chef sauces, Fruitfield jams and marmalades and Silvermints and Scots…

Joint administrators of Quinn Insurance suing PwC The joint administrators of Quinn Insurance Ltd are suing the firm’s former auditors PwC for €1bn over alleged negligent auditing. Michael McAteer and Paul McCann of Grant Thornton were appointed joint administrators to Quinn Insurance in March 2010. PwC Ireland has consented today to the application of the joint administrators of Quinn Insurance Ltd (under administration) to admit legal proceedings to the Commercial Court. “These proceedings are unjustified and devoid of merit,” PwC said in a statement. “The affidavit, accompanying the application, contains factual inaccuracies, misrepresentations of the facts and assertions with which we fundamentally disagree. “The circumstances behind the proceedings are complex and technical and involve many interrelated parties, including…

Liberty Mutual has been named the preferred bidder for Quinn Insurance Limited with good news for Irish staff as they are told no job losses are imminent. The administrators for Quinn announced this morning that the proposal of the preferred bidder is that a new insurance company will be established.

JPMorgan Chase is to pay a record US$13bn settlement after admitting that it made “serious misrepresentations” to the public about numerous residential mortgage-backed securities (RMBS) transactions. The US Justice Department said that as part of the settlement, JPMorgan acknowledges that it “regularly represented to RMBS investors that the mortgage loans in various securities complied with underwriting guidelines”.  It said that contrary to this, on a number of different occasions, JPMorgan employees knew that the loans in question did not comply with those guidelines and were not otherwise appropriate for securitization, but they allowed the loans to be securitized – and those securities to be sold – without disclosing this information…

Marine Harvest Ireland (MHI) has contracted Cill Chiaráin Éisc Teoranta to process €20m of fish from its Kilkieran Bay site in Connemara next year. MHI currently employs 15 staff on the site, which it has been operating since October 2013. The agreement will see €20m worth of its ‘Irish Organic Salmon Co’ product processed by Cill Chiaráin Éisc Teoranta between March and July 2015. Around 85pc of the processed product will be exported to 15 countries worldwide. “Marine Harvest Ireland looks to work with local partners and suppliers where at all possible and we utilise in excess of 600 local suppliers across the country,” said Pat Connors, sales and processing…