Donworth secures close to €1m in a fundraising exercise using the Employment Incentive and Investment Scheme (EIIS). This scheme allows individual investors to obtain income tax relief on investments made into EIIS certified qualifying companies and is a replacement for the former Business Expansion Scheme. Donworth’s partner in securing this investment was the accountancy firm DHKN (dhkn.ie) which has offices in Galway and Dublin.
These funds form part of the overall €3m investment Donworth has raised for investment in Galmere Fresh Foods and Taravale Foods. They enable Donworth to continue the rationalisation programme of these first two food enterprises while seeking future acquisitions which fit the company’s investment strategy and profile.