Lakeland agrees to buy Fane Valley's dairy business

The co-op also reported a 10% rise in pre-tax profit for last year

4th May, 2016
Lakeland's milk powder plant in Bailieboro, Co. Cavan

Lakeland Dairies said profit before tax increased by 10 per cent to €12.8 million last year and announced the acquisition of Fane Valley's dairy business in Banbridge, Co. Down for an undisclosed sum.

The company said revenue in its food service division rose by six per cent to €201.7 million but sales in its food ingredients business fell by 14 per cent to €324.4 million, reflecting lower market prices due to the oversupply of dairy products...

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