Lakeland and Lacpatrick complete merger
Alo Duffy to chair board while Michael Hanley becomes group chief executive
Michael Hanley, group CEO; Alan McCay, vice-chairman; Colin Kelso, vice-Chairman and Alo Duffy, chairman of Lakeland Dairies. Co-operatives Lakeland Dairies and Lacpatrick formally merged on Monday creating a business with sales of more than €1 billion a-year.
Irish and UK regulators recently approved the Lakeland’s and Lacpatrick’s proposal to join forces, paving the way for a deal that was under negotiation since last year.
The pair announced on Monday that they had formally merged. The new business will be called Lakeland Dairies Co-operative Society Ltd.
Michael Hanley, current chief executive of Lakeland, will be the new society’s group chief executive.
Lakeland will be the second biggest dairy processor in Ireland, handling 1.8 billion litres of milk produced on 3,200 farms in 16 counties on either side of the border. It will turnover more than €1 billion a-year.
Lacpatrick began talks with Lakeland almost 12 months ago after announcing that it was seeking a strategic partner or merger.