Silver Pail, a dairy based in north Cork, has struck a three-year deal with Baskin-Robbins, the world's leading chain of ice cream stores, to produce Genetically Modified Organism (GMO) free ice creams in Europe.
Owned by the Murphy family,Silver Pail manufactures ice cream by traditional methods using local fresh milk. The 30-year-old company was selected by Baskin-Robbins following an international competitive pitch to produce GMO-free ice creams for the chain in Europe.
Starting this month, it will make over 30 flavours of ice cream for the chain. Initially over 1.5 million litres of Baskin-Robbins ice cream will be produced using cream from 7 million litres of milk sourced from local farms, according to Baskin-Robbins. The contract will be worth €2 million this year, but its value will grow as Baskin-Robbins expands its 140 stores in the UK and Europe, said a spokeswoman.
"We are very pleased to partner with Silver Pail Dairy, a world-class company known for its meticulous attention to quality," said Michael O'Donovan, vice-president of Global Research and Development for Dunkin' Brands Inc, home of Baskin-Robbins.
The north Cork based dairy is the largest privately owned ice cream manufacturer in Ireland. "We are extremely excited about the agreement with Baskin-Robbins as it fits so well with our strategy to manufacture the finest natural real dairy ice cream for retail and food service customers throughout Europe," said Michael Murphy, chief executive.
It currently produces over 10 million litres of real dairy ice cream each year including its own brand, Corrin Hill, along with producing ice cream for the retail and food service markets. It also produces award-winning frozen desserts and Carolan's Irish Cream liqueur. Silver Pail's business is almost equally divided between the retail market and food service industry, according to the company.
The most recent accounts for the ice cream manufacturing part of the business, called Foxway Company, show that it made a profit before tax of €125,579 in 2004. Gross profit, before distribution and administrative costs and interest, was €1.166 million.
The company, which employs 49 people, did not pay a dividend. The accounts, which are lodged in the Companies Office, state that Foxway is a subsidiary of Tom Darragh Ltd, which is a subsidiary of a company called Shoreside Investment. The abridged accounts for Shoreside show net current assets of €888,817.
Another subsidiary of Shoreside, called Havana Company, is involved in the production of cream liqueur. Accounts for the year to the end of of 2004 show a loss after tax of €165,427 on a gross profit of €675,336. Both companies are controlled by Michael Murphy.
Silver Pail products will now feature in Baskin Robbins stores and franchises throughout Europe. Baskin Robbins operates 5,000 stores worldwide and was recently voted one of the top three most valued food brands in the US.
