LacPatrick To Send Details Of Business To Potential Bidders
Border dairy Co-op LacPatrick will send out details of the business to potential bidders this week, according to the Irish Times.
The Monaghan-based group announced last month that it would seek a strategic partner for the business, and it is understood that the documents will be sent to four rivals, Glanbia, Lakelands, Aurivo and Dale Farm, which have all expressed interest in bidding for LacPatrick.
The four groups quickly announced their interest in a partnership no sooner than the announcement was made by Chairman Andrew McConkey.
Irish Times understands that Lakelands is the natural front-runner on the basis that their territories overlap in some places.
Dale Farm denied having any contact with the group, however, chief executive Nick Whelan said that he had been made aware of the situation at LacPatrick and expressed an interest in the developments.
Sligo based Aurivo also took note of 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'.
© 2018 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click subscribe to sign up for the Checkout print edition.