LACPATRICK TO MERGE WITH LAKELAND

5 October 2018 No Comments by The Northern Standard

DEAL NEEDS APPROVAL BY SHAREHOLDERS

Michael Fisher

LacPatrick Dairies, formerly the Town of Monaghan Co-op, has agreed the terms for a merger with County Cavan based Lakeland Dairies. Together they will become the second largest dairy processor on the island of Ireland. The boards of both cooperatives have unanimously recommended the merger to shareholders.

They will need to approve the deal at Special General Meetings in Cavan (Lakeland) and Coleraine (LacPatrick) on Tuesday 23rd October. A successful merger would underpin a sustainable and competitive milk price for thousands of dairy farmers and their families on both sides of the border, according to company sources. It would see Lakeland own almost three-quarters of the new co-operative (73%), with LacPatrick making….

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