Lakeland last man standing in LacPatrick merger talks
Irish dairy co-op LacPatrick has confirmed it is now in exclusive merger discussions with rival Lakeland Dairies.
The announcement yesterday means Dale Farm, the UK's biggest dairy co-op, has now quit discussions over a tie-up with Monaghan-based LacPatrick.
LacPatrick announced in April that it was entering discussions over a joint venture or partnership. It collects milk from around 700 farmers in border counties of Northern Ireland.
Lakeland has a similar number of NI suppliers.
Irish co-ops Aurivo and Glanbia, and Japanese company Mitsui, had also been linked to the talks.
A spokesman for LacPatrick said: The boards of LacPatrick Dairies and Lakeland Dairies have agreed to enter into exclusive discussions regarding an amalgamation of the two societies. Any agreement reached will be subject to shareholder approval and the relevant regulatory clearance."