a day ago
Landing the Lidl deal showed our fish firm wasn't small fry
Things are going swimmingly for Colman Keohane, managing director of Keohane Seafoods.
The family fish business, run by Keohane and his brother Brian, recently signed a €30 million deal with the retailer Lidl.
The company was set up in 2010 by the brothers' father, Michael, who had previously run an aquaculture venture, specialising in mussels, that he subsequently sold.
Keohane, the eldest of five, grew up helping his father out, 'roped in from the age of 12', he says. 'Before that I'd have been sent to my mother's family, who were farmers in Blarney, to pick stones.'
It developed a work ethic that has stood him in good stead. After studying accountancy in college — light relief by comparison — he returned to Blarney in the early Noughties to open a fish shop. Pretty soon he had a thriving wholesale business, supplying hotels and restaurants too.
'We were one of the first swanky fish shops, with wines and artisanal products,' he says.
Things got boomier through the Celtic tiger, but in the crash that followed he entered choppy waters as restaurants struggled. 'There was a lot of bad debt,' Keohane recalls.
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His father's idea to set up a new family business in the depths of a recession was only the latest in a list of entrepreneurial activities.
'Dad had done every species of fish in his time, from prawns to white fish, to crab and mussels, always buying, processing and selling it on. That was his strength — finding opportunities, spotting the trend and producing the quality. At the time, quality pre-packed products were only coming into the market here and have since grown and grown.'
His father has a number of patents under his belt, including one for vacuum-packed mussels. He was innovative in other ways too; for example, he was the first processor to market here with 'skin film' packaging.
'It's where the film drapes over, say, your salmon darne. It was a trend that was happening at the time in Europe and presents the products really well,' he says.
When they set up Keohane Seafood in 2010, with a view to selling pre-packed fish for the retail market, the family already had strong connections with the fishermen at Union Hall and Castletownbere in west Cork.
'We were in a location where all the fresh fish was being landed and we already had good relationships. But the idea for the business was to go where there was more population, so we started out in a 3,000 sq ft unit in Cork city,' he says.
They landed SuperValu as their first customer, quickly followed by Dunnes and Lidl. In 2015 they opened a second factory in Bantry.
Pretty soon the bulk of the company's revenues came from providing white-label solutions to retailers, with added-value inputs such as marinades and seasonings. 'At the time retailers were shifting away from loose fish counters and we were offering a microwavable product that was completely new,' he says.
'Right now it's all about meal solutions, with ready-to-cook being the big trend,' Keohane adds. To sate demand the company has just invested in a third factory, also in Bantry, specially kitted out to produce ready-to-eat meals. In total the business employs 285 people and is growing.
The key to its success is simple, he reckons. 'We produce to a very high quality, all the time, and we have a strong innovation culture. Last year alone we delivered 70 new products to market.'
Thanks to customers such as Lidl, it has also been able to grow exports too. It sells into the UK, Germany, France and Italy.
Determined to develop the food service offering once more, it's all hands on deck for the family and their growing team, Keohane says. 'People are excited by the growth.'
