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Thread: Cully & Sully sold to US buyer - A Good or a Bad thing?

  1. #11
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    Quote Originally Posted by Phil Maker View Post
    bad

    another sell out

    typical Irish stunt, same as Cooley
    Oh no it's not!
    An Irish company can only grow so much ie dependent on a fragment of the 4+ million population; the profits derived from this fragment; the high cost expenditure etc.

    Our indigenous companies (like Cully & Sully) do not have the huge finances needed to expand overseas.
    It is therefore a great consolation that these companies are bought out, by international players, who recognise their quality, commitment and expertise.

    This helps our companies to get global recognition....which reflects well on the country.

    All good news, I say......the Cully & Sully Tomato & Coriander is mmmmmmm !!!

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    Quote Originally Posted by filter View Post
    Oh no it's not!
    An Irish company can only grow so much ie dependent on a fragment of the 4+ million population; the profits derived from this fragment; the high cost expenditure etc.

    Our indigenous companies (like Cully & Sully) do not have the huge finances needed to expand overseas.
    It is therefore a great consolation that these companies are bought out, by international players, who recognise their quality, commitment and expertise.

    This helps our companies to get global recognition....which reflects well on the country.

    All good news, I say......the Cully & Sully Tomato & Coriander is mmmmmmm !!!
    Tell that to Kerry, Glanbia etc, they took the LONG, SLOW ROAD, not the quick buck SELL OUT like Cully and Sully

    Will the various Enterprise Boards be recouping the ACTUAL cost of their investments and expenditure? I want to know.

  3. #13
    Politics.ie Member Spanner Island's Avatar
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    Quote Originally Posted by Gimpanzee View Post
    WTF is with the criticism and moralising? The boys done good, set up a company and have sold it on. End of story.
    I've no problem with them selling and making a killing if they want to. Good luck to them.

    I would like to see more done to help keep successful indigenous companies in Ireland though.

    I'd also like to see any companies which receive state grants, aid or whatever having to provide a share of their company in return for that investment - so that if/when a sell off occurs that at least the state gets some pay back or even some profit.

    It wouldn't have to be a massive share and for its part, the 'state' could commit to being a non interfering silent partner.

  4. #14
    Politics.ie Member DeputyEdo's Avatar
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    Quote Originally Posted by Gimpanzee View Post
    WTF is with the criticism and moralising? The boys done good, set up a company and have sold it on. End of story.
    Yeah...how dare anyone have an opinion on it!

  5. #15
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    Quote Originally Posted by Gimpanzee View Post
    WTF is with the criticism and moralising? The boys done good, set up a company and have sold it on. End of story.
    Generally I would agree with you. I find it hard to like these two though. Rich kids from the Ballimaloe stock took advantage of the family connections to create a company. For the most part, none of the manufacturing was Irish-based.

    I wish them well, but it's not a genuine boys done good story.

  6. #16
    Politics.ie Member Spanner Island's Avatar
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    Quote Originally Posted by Rebel_Yell View Post
    Generally I would agree with you. I find it hard to like these two though. Rich kids from the Ballimaloe stock took advantage of the family connections to create a company. For the most part, none of the manufacturing was Irish-based.

    I wish them well, but it's not a genuine boys done good story.
    It's what this represents that bothers me as opposed to their background.

    The same thing was happening 10-15 years ago in the tech sector with Baltimore and Iona etc. And no doubt it will happen again which is depressing.

    Because if this keeps happening then we'll never develop another Guinness or anything else - which even though it is now owned by Diageo, is associated with Ireland because of its long association with Dublin in particular.

    Cully & Sully is exactly what we should be doing in this country - high end high margin ready foods. Better to do this than export on the hoof, have that produce processed elsewhere and then re-imported as Marks & Spencer ready meals with all the mark up going abroad etc.

    But if the precedent is to simply bring companies to a certain level or size and then flog them off, then Ireland is doomed to being overly FDI dependent and never getting beyond that.

  7. #17
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    Quote Originally Posted by Rebel_Yell View Post
    Generally I would agree with you. I find it hard to like these two though. Rich kids from the Ballimaloe stock took advantage of the family connections to create a company. For the most part, none of the manufacturing was Irish-based.

    I wish them well, but it's not a genuine boys done good story.
    I don't like their products and I'm not too keen on the Ballymaloery either, but I can't find any reason to begrudge them their success in growing a company to the point where it becomes an attractive acquisition for a bigger company.

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    Fair play to them imo. They dont have a strong enough brand yet imo, to lmake a real dent by themselves in the UK or beyond.
    Just dont change the chicken and veg soup..my winter warmer.

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    Quote Originally Posted by Gimpanzee View Post
    I don't like their products and I'm not too keen on the Ballymaloery either, but I can't find any reason to begrudge them their success in growing a company to the point where it becomes an attractive acquisition for a bigger company.
    care to address tax payer funding of EI who consistently championed these guys, the compliant media that took the EI copy and ran with it?

    how much have these guys cost the taxpayer? remember when they launched first the actual soup was made in France!!!

    what have EI and other boards spent on this company? what level of grants / loans or otherwise ?

  10. #20
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    Quote Originally Posted by Spanner Island View Post
    It's what this represents that bothers me as opposed to their background.

    The same thing was happening 10-15 years ago in the tech sector with Baltimore and Iona etc. And no doubt it will happen again which is depressing.

    Because if this keeps happening then we'll never develop another Guinness or anything else - which even though it is now owned by Diageo, is associated with Ireland because of its long association with Dublin in particular.

    Cully & Sully is exactly what we should be doing in this country - high end high margin ready foods. Better to do this than export on the hoof, have that produce processed elsewhere and then re-imported as Marks & Spencer ready meals with all the mark up going abroad etc.

    But if the precedent is to simply bring companies to a certain level or size and then flog them off, then Ireland is doomed to being overly FDI dependent and never getting beyond that.
    Furriners stealing our indigineous industries? What sort of DeValera era, dancing at the crossroads economic mumbo-jumbo is that?

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