WEXFORD MILK Producers (WMP) is in advanced discussions with Dairy Crest to purchase a 50 per cent share in Wexford Creamery Ltd for a figure in the region of €9 million.

If successful, WMP would becoming the majority shareholder in the creamery by holding 70 per cent of the stock.

Any transaction will be conditional on the approval of WMP’s 350 milk-producing co-op members and this is expected to be forthcoming by the end of March 2010, a WMP statement said yesterday. Dairy Crest will retain a minority stake in the creamery and will continue to provide a range of services to Wexford.

For the year ended March 31st, 2009, the creamery’s turnover was €56 million. It employs 100 people.