Wed, 11 May 2016 | DIVISION SALE
County Cavan-based Lakeland Dairies Co-operative has acquired the dairy division of Newry-based Fane Valley for an undisclosed sum, it has been reported.
The new deal represents a simpler solution to a proposed merger between the two dairy manufacturing companies announced in August last year. A statement from the companies said that the less complex structure was "considered to be a better option” than the original merger.
Michael Hanley, the chief executive of Lakeland Dairies Co-operative, said of the most recent deal: "The strategic rationale behind Lakeland Dairies and Fane Valley co-operating to advance the interests of their respective businesses is as strong today as it was in August 2015.
"It is extremely positive that the boards of both co-operatives have had the foresight to recognise the limitations of the initially proposed joint venture arrangements and the courage to adapt and revise their approach.”
Fane Valley boss Trevor Lockhart backed Mr Hanley’s statements, saying that the division sale represented the best interests for both businesses — leading to “greater economies of scale and enhanced market capability”.
Within Northern Ireland alone, the companies purchase around 250 million litres and 330 million litres of cow’s milk respectively per year. Both firms use this milk to manufacture a variety of dairy products and other ingredients for the food industry. The firms both rely one hundred per cent on export markets for all of their products.
For more information, see what to look out for when buying a business.
Expert team of specialist vehicle restoration mechanics and engineers. Spacious showroom and workshops. Please note, this is an accelerated process. Best and final offers are to be received by 5:00pm Monday 17 December 2018.
A profitable independent catering company that provides catering services throughout the Southeast. This is an opportunity to purchase a business with an established turnover, a loyal customer base and potential to grow. Offers invited.
Profitable pizza, kebabs, chicken takeaway and delivery restaurant for sale. Established over 20 years. Very busy takeaway and delivery situated in a busy location with custom from local residential area and nearby school. Lots of passing trade from...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources