North Cork Co-op moves in to acquire Newtownsandes
North Cork Co-op has put the wheels in motion to acquire Newtownsandes Co-operative, having notified the relevant authorities of its intentions.
The Competition and Consumer Protection Commission was notified of the acquisition earlier today (Thursday, December 13).
A potential merger between the north Kerry based Newtownsandes Co-op and North Cork Creameries was mooted back in February of this year at a members’ meeting on the matter.
The Irish Co-Operative Organisation Society (ICOS) was believed at the time to act as a “go-between” on the deal, chairing talks between the two co-ops.
Second deal of 2018 for North Cork Co-op
Earlier this year, North Cork Creameries and the Feale Bridge & Headley Bridge Co-operative from Abbeyfeale, Co. Limerick, announced their intentions to merge following an agreement approved by the boards and members of both co-operative societies.
It follows “necessary rule changes and approvals” agreed by the members of the co-operatives, on the unanimous recommendation of their respective boards, according to the co-ops.
These were made during the course of discussions leading up to the completion of the merger agreement.
The arrangement saw members of Feale Bridge & Headley Bridge Co-operative become full members of North Cork Co-operative.