Investment will fund development of a new seed roasting and R&D facility in Sligo and create 25 new jobs
Good4U, the award winning Sligo based health food company, has secured a €1 million investment in a funding round from Western Development Fund, Enterprise Ireland, AIB and internal investment from the company.
The €1 million investment, combined with increased sales and new business opportunities, will fuel the expansion of Good4U by facilitating the opening of a new R&D and production headquarters in Finisklin Business Park in Sligo and lead to the creation of 25 new positions over the next two years.
Founded in 2004, Good4U is a family business established by Bernie Butler and her daughters Laura, sales and marketing manager, and Michelle, a certified dietician and nutritionist, and son Karol, the company’s financial controller. The family have pioneered the development and marketing of a unique range of functional foods including fresh ready-to-eat sprouted seeds, wheatgrass products and roasted seed snacks and ingredients. Supersprouts and Brocco Shoots are the company’s platform product, and these consist of an innovative mix of sprouted broccoli, alfalfa, clover and radish seeds which have been proven in research from the University of Ulster to have anti-cancer properties.
Good4U’s other manufacturing facility based in Cookstown, Co. Tyrone employs 18 people. This is where Good4U will produce a wide range of sprouted seeds for the retail and foodservice sectors. Capacity at this site is more suited to sprouted seed production and relocating the roasted seed operation to Sligo will increase capacity for sprouted seed production in the Tyrone plant by over 50%.
Good4U’s current customers include Tesco UK & Ireland. Supervalu, Centra, Marks & Spencer’s UK and Ireland, Sainsbury’s UK, and independent customers in the UAE and Russia. In addition, the company is in advanced discussions with Spar and other major UK retailers. Export sales to countries where research indicates high demand for healthy snack alternatives such as Spain, Sweden, France and the USA are also actively being pursued. The company’s exciting New Product pipeline will be instrumental in winning new business and will account for other sales opportunities ensuring the growth of the company.
Geraldine McLoughlin, Investment Executive, Western Development Commission, said:
“This is a great opportunity for the Western Development Commission to invest in a very exciting company. Good4U has an experienced and successful management team who have built up a very strong recognisable brand with an excellent track record of innovation and new product development. This company will also be directly employing 25 people in Sligo which is great news for the local area. So, as well as the Western Development Commission investment making good commercial sense, having such a high calibre business in the Western Region will contribute to the area’s vibrant indigenous enterprise base.”
Commenting on the investment, Bernie Butler, Managing Director of Good4U, said:
“Winning the support of the Western Development Commission, Enterprise Ireland and AIB has made our Sligo expansion possible. Underpinning our success is our ability to innovate and lead the market with products that meet and exceed consumer expectations. Today, more than ever, it is about building partnerships and aligning ourselves with people who believe and share our vision. A real measure of this has been the energy, courage, passion and commitment shown by all concerned in the negotiation process. The Good4U brand, combined with an excellent track record, loyal supportive customers and skilled staff will be instrumental in delivering our ambitious plans. We are truly excited about this project and what the future holds”
For further media information, please contact:
Lisa Buckley or Breda Brown, Unique Media
Tel: (353 1) 522 5200 or (353 87) 122 9774 (LB)
About Western Development Commission
The WDC’s Western Investment Fund (WIF) is a €32 million Evergreen Fund providing seed, venture capital and loan finance on a commercial basis to SMEs and Social Enterprises within the WDC area of Clare, Donegal, Galway, Leitrim, Mayo, Sligo and Roscommon.
The WIF has a very diverse portfolio across a range of sectors including medtech and lifesciences, cleantech, ICT, manufacturing and internationally traded services, creative industries, food, tourism and social and economic infrastructure.