Co-ops receive long-awaited approval for merger
Lakeland Dairies Co- operative Society Limited and LacPatrick Co-operative Society Limited have jointly welcomed regulatory approval, for the merger of both Societies, received from the Competition and Markets Authority (UK) and from the Competition and Consumer Protection Commission (Ireland).
The Competition and Merger Authority (CMA) in the UK and the Competition and Consumer Protection Commission (CCPC) in Ireland have ruled that the merger can now be completed.Both authorities determined and ruled that competition would not be adversely affected as a result of the merger and both cleared the transaction unconditionally.
The regulatory authorities’ clearance was the last significant hurdle for the merger to go ahead. In October 2018, the Lakeland and LacPatrick shareholders voted 97% and 96% respectively in favour of forming one of the largest dairy processors in Europe.
The new Society – to be called Lakeland Dairies Co-Operative Society Limited – will be the second largest dairy processor on the island of Ireland with a cross-border milk pool of 1.8bn litres, produced by 3,200 farms from 15 counties.