PICTURED (l/r) are: Andrew McConkey, Chairman, LacPatrick Dairies; Michael Hanley, CEO, Lakeland Dairies and Alo Duffy, Chairman, Lakeland Dairies.
Merger will underpin a sustainable and competitive milk price for thousands of dairy farming families north and south.
Lakeland Dairies and LacPatrick Dairies have reached agreement to merge following the unanimous approval of the Boards of both co-operative societies who are recommending the proposed merger to their respective shareholders.
Exclusive discussions about a possible merger started last June and have reached a positive outcome where the Boards of both societies are unanimously recommending shareholders to vote in favour of the merger at Special General Meetings which will be held on Tuesday 23rd October next. Regulatory approval will also be required.
Lakeland Dairies and LacPatrick Dairies are neighbouring societies and both operate on a cross border basis exporting the vast majority of their output to global markets. Each has a heritage of excellence in co-operative dairy farming spanning well over a century and share common business development aims in the interests of their shareholders, milk producers and rural communities.
The amalgamation of Lakeland and LacPatrick is a coming together of two dairy co-operatives on the island of Ireland to form a strong force in the global dairy industry. Both co-operatives are highly successful agrifood industry players with excellent manufacturing facilities and complementary strengths and advantages in their various worldwide markets.