LacPatrick Needs Space And Time Says ICMSA President
President of The Irish Creamery Milk Suppliers Association (ICMSA) Pat McCormack said that LacPatrick needs “space and time” to think about the best investment decision for their farmers.
The plea comes as an overseas investor, as well as numerous domestic co-ops, have expressed an interest in a merger with the Border region dairy group.
Concerned farmers have said that LacPatrick Dairies should be given the freedom and time to make a decision that is best for the co-op, according to the Independent.
Any merger would require a 75% approval rating from its members. It is believed that Lakeland Dairies is the likeliest partner.
Sligo based Aurivo, however, has noted LacPatrick's situation and expressed an interest in a deal. In a statement, the group said that the two businesses would be 'a very good fit'.
Northern Irish Dale Farms who said yesterday that it was interested in a deal with LacPatrick.
LacPatrick released the statement last Tuesday where chairman Andrew McConkey announced that the group were interested in pursuing strategic options which may involve partnerships with other players.
© 2018 Checkout – your source for the latest Irish retail news. Article by Aidan O'Sullivan. Contact Checkout here for details on events or subscriptions.