Donegal Investment Group, formerly Donegal Creameries, has announced that the Swiss specialist fund Quaero Capital S.A. has pulled out as a shareholder.
Quaero Capital S.A. was one of the biggest shareholders of Donegal Investment Group, having held 8.02% of the company.
The market was informed on 17th December that Quaero Capital no longer has a notifiable interest in the company.
Revenue rose by 11.4% to €45.2m last year at Donegal Investment Group, as it enjoyed soaring segmental profit, with a 47% increase to €4m in the year ending 31 August 2019.
The strong performance was put down to continued double-digit growth in the speciality dairy business Nomadic, as well as strong demand for their produce businesses’ seed potato varieties.