Glanbia: Fivemiletown latest
Glanbia Ingredients Ireland Limited (GIIL), today announced it has entered into exclusive discussions with Fivemiletown & Brookeborough Co-Operative Agricultural & Dairy Society Limited, (Fivemiletown) with a view to forming a long-term relationship between the two organisations.
Fivemiletown Co-operative manufactures and markets a range of soft and cheddar cheeses with a number of well-known brands such as the Boilie Brand. Under this agreement Fivemiletown will enter into consultations with its employees regarding the future of its cheese facility and will enter into a long-term milk supply agreement with GIIL. GIIL will perform milk collection and testing on behalf of Fivemiletown as well as providing an advisory service to its suppliers. As part of the transaction, GIIL will have an exclusive licence over the retail cheese brands except, for Boilie which will remain with Fivemiletown.
Fivemiletown’s successful hardware and agricultural inputs business will develop an alliance with Glanbia plc’s Agribusiness Division.
This strategic alliance is subject to the approval of Fivemiletown shareholders and the Board of GIIL. Both parties see considerable value in establishing a long term, mutually beneficial alliance.