GIIL welcomes Wexford shareholder endorsement

Glanbia Ingredients Ireland Limited (GIIL) has welcomed the outcome of the vote held at the special general meeting of  Wexford Milk Producers (WMP) last night where shareholders approved the sale of Wexford Creamery Ltd to GIIL.

The result of the ballot, conducted independently by the Irish Co-operative Organisation Society, was announced after 326 farmers cast their votes.

“We welcome this endorsement by Wexford Milk Producers shareholders and thank them for their considered analysis of the proposal put before them and for their  goodwill and support during the  process,” said Jim Bergin, CEO of GIIL.

“We look forward to continuing to build on what has been a long, and  mutually beneficial relationship with WMP over many years involving milk supplies, cheese manufacture and whey supplies.

He continued: “Subject to Competition Authority approval we hope to complete the transaction in quarter one 2014 which will allow us to work in partnership with Wexford to optimise the opportunities presented by milk quota abolition and to build a sustainable business for all concerned  into the future.”

In addition, he noted that GIIL and WMP will host a series of supplier meetings in early New Year to progress working arrangements, including milk supply agreements.

Related: 
GIIL takeover positive for WMP – chairman

 

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