Monaghan-based dairy co-op LacPatrick has entered into exclusive merger talks with neighbouring co-op Lakeland Dairies. In a statement to the Irish Farmers Journal, LacPatrick said it had entered exclusive discussions with Lakeland “regarding an amalgamation of the two societies”.Any agreement reached between LacPatrick and Lakeland will be subject to a vote of approval from the shareholders of both co-ops.
Monaghan-based dairy co-op LacPatrick has entered into exclusive merger talks with neighbouring co-op Lakeland Dairies. In a statement to the Irish Farmers Journal, LacPatrick said it had entered exclusive discussions with Lakeland “regarding an amalgamation of the two societies”.
Any agreement reached between LacPatrick and Lakeland will be subject to a vote of approval from the shareholders of both co-ops.
In April, LacPatrick announced its intention to seek a joint venture, partnership or merger with another milk processor following an emergency meeting of the co-op’s board after a number of months of cuts in farmer milk prices.
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