The former management team of the Jacob Fruitfield Group has established a new Drogheda-based biscuit business, which will employ 100 staff when fully operational.

East Coast Bakehouse plans to manufacture its own product line for the Irish and UK markets.

The company is investing €15 million on the renovation of a former production facility at Donore Road business park in Drogheda.

The plant, which is the size of a football pitch, provides space to house the long production lines required for biscuit baking.

"Every week over €3 million worth of biscuits is purchased and enjoyed by Irish consumers, almost all are currently imported," East Coast Bakehouse chief exectuve Michael Carey said.

“We aim to provide a new commercially competitive local Irish source of biscuits. There is also a great opportunity to provide high quality biscuits to UK retailers.”

The domestic biscuit industry is said to be worth €170 million, while the UK market is valued at over €2 billion.

Minister for Jobs, Enterprise and Innovation Richard Bruton said: "As I have said before, at the heart of our jobs plan is creating a powerful engine of Irish industry, alongside the strong multinational sector, creating jobs in every town and county in the country."

“East Coast Bakehouse is a great company and a great example of what we are trying to achieve with our plan - an Irish company, in a sector we are strong in, winning export markets and creating large numbers of jobs in Drogheda,” he added.

The founders of the new business, which is supported by Enterprise Ireland, are chief exectuve Michael Carey , marketing and innovation director, Alison Cowzer, commercial director, Daragh Monahan, operations director, James Yarr and chief dinancial officer, Gerry Murphy.

The group were behind the Tallaght-based Jacob Fruitfield Group before it was sold to Valeo Foods in 2011.