Richard Kennedy, Chief Executive, Devenish
Richard Kennedy is a purpose-driven entrepreneur and chief executive of agri-tech company Devenish. His purpose is to enable people to fulfil their potential and innovate through science for the greater good of farming, food and society.
Having held several senior roles within Devenish, he has driven a forward-thinking vision and attitude throughout the business.
His passion for farming and food is at the core of Devenish’s 'One Health' from soil to society strategy. This sees Devenish focus on developing innovative solutions for meat, milk and egg producers with the aim of enabling them to produce safe, nutritious food that improves the health of the consumer.
Driving this strategy has seen the business transform from a trading company focused on the Northern Ireland market to a research, development and innovation business trading in over 30 countries.
Richard recharges his batteries on his family farm, on his bike or at the side of a GAA pitch, where he passionately supports his children, his club and his county.
What moment/deal would you cite as the game changer or turning point for the company?
Once we realised the positive impact we could have on the production of food and the impact that could ultimately have on human health and the environment, we knew we were onto something special. This gave us a clear focus - knowing we could make a positive difference to the people and the environment.
What were the best and worst pieces of advice you received when starting out?
The best advice I received was ‘you don’t always get what you pay for, but you always pay for what you get’. That is a valuable lesson, worth learning at an early stage. I find it hard to think of the worst piece of advice as whether you choose to heed it or not, there is always some merit in learning from other people’s insights even if you disagree.
To what extent does your business trade internationally and what are your plans?
Devenish now trades in more than 40 countries. We will continue to grow the business internationally, however the key focus for us is ensuring we do that in a sustainable manner.
Describe your growth funding path.
We have reinvested all our funds to grow with the future. The European Investment Bank anchored-funding we secured in 2018 (€118 million in total) has been crucial in allowing us to build and grow our research & development and manufacturing capabilities, as well as helping facilitate our mergers and acquisitions activity. As we continue to grow we will look for future investment to achieve our growth plans.
How will your market look in three years and where would you like your business to be?
Our market is constantly evolving and changing. There is huge disruption in the market and our aim is to position Devenish as the most engaged and significant player within it.
What are the big disruptive forces in your industry?
Consumer demand for authenticity and transparency in the food chain is driving huge disruption and this is exactly the space we play in.
What are you doing to disrupt, innovate and improve the products or services you offer?
We are a disruptor – we’ve always innovated and sought to improve our products and services. We make continuous investment into R&D to ensure we are market driven and relevant. We will continue to improve on our products and services. As we grow further, we will look to develop more proactive and positive solutions to deliver on our strategy of One Health, from Soil to Society.
How has Brexit impacted your business? Are you still feeling the effects?
The level of uncertainly has had huge impact. We have had to slow down capital expenditure and there is a knock-on effect on negotiating deals with customers.
What motivates you to keep performing at your best?
I have a responsibility to the people of Devenish. They have huge enthusiasm, ability and an appetite to succeed – it is my duty to provide the environment to allow all of us in Devenish to fulfil our potential.
