Kerrygold has exceeded €1bn in annual retail value.

The brand owned by Irish dairy farmers is the first Irish food brand to reach this milestone.

It was unveiled by Agriculture Minister Michael Creed to farmer shareholders at the Kerrygold Kitchen in Ornua.

The Kerrygold brand was created by Anthony O'Reilly in 1962.

He wanted establish it as a premium brand, befitting the rich quality of Irish milk.

Its global success is attributed to farming families' commitment and state-of-the-art member production facilities.

While Kerrygold Butter has grown in popularity over the past five decades, the recipe has not changed since it was first produced.

Some 7.5 million packets of the gold foil are sold each week - while Kerrygold is the number two butter brand in the US and number one in Germany.

Kerrygold shreds and slices range launced in the US market in 2018 | Image: Kerrygold

Minster Creed said: "The Kerrygold brand is an amazing asset for Irish dairy farmers and its promotion of Ireland's unique grass-fed credentials has been instrumental in enhancing Ireland's reputation around the world as a sustainable food producer.

"Reaching this milestone is a significant achievement for Kerrygold, and Ornua, who have not only contributed economically to Ireland but have also played their part in supporting our vibrant rural community and building opportunities in markets all over the world."

Róisín Hennerty, managing director at Ornua Foods, added: "Today represents a special day for the dairy industry with Kerrygold exceeding €1b in annual retail sales.

"While Kerrygold holds a unique place in the hearts of the Irish people, we are especially proud that the brand has captured the hearts and imagination of consumers all over the world.

"The future is bright for Kerrygold - our unique connection to our consumers coupled with our way of farming and our members' expertise will drive the next generation of success".