North Cork Co-op and Newtownsandes merger approved
North Cork Co-operative Creameries Limited has today (Friday, January 25) confirmed that the Competition and Consumer Protection Commission (CCPC) has approved the proposed merger of North Cork and Newtownsandes Co-operative Society Limited (Moyvane, Co. Kerry).
The merger was voted on and approved at separately held Special General Meetings (SGMs) by the shareholders of both co-operatives in December 2018.
A statement issued this morning outlined that both co-operatives are “friendly and neighboring societies” that already work closely together in a commercial dairy processing arrangement.
North Cork Creameries already processes some 23 million litres of milk annually into a range of dairy products for Newtownsandes.
The businesses of both co-operatives will be merged with all current milk collection and processing arrangements continuing as normal.
This will cater for ongoing expansion by milk producers across its operating region.
‘Strength to strength’
Both co-operatives have been in discussion since January 2018 about the possibility of an amalgamation.
Their respective SGMs approved the merger by a show of hands and a ballot was not required in either case.
The process was overseen by the Irish Co-operative Organisation Society Ltd (ICOS).
Commenting on the announcement, Pat Sheahan, CEO of North Cork Creameries, said: “This merger builds on an already successful milk supply and processing relationship which will now go from strength to strength.
I warmly welcome the members of Newtownsandes to North Cork where we will continue to serve the best interests of all our milk producers collectively on the most efficient and competitive basis possible and long into the future.
North Cork Creameries is a company offering a portfolio of dairy products and food ingredients manufactured to international standards.
The co-op’s dairy-food ingredients include: milk powders; caseins; whey; and bulk and pre-packed butter for a “diverse range” of food manufacturing applications.
North Cork also supplies fresh liquid milk, whipping creams and butters to multiple retailers.