LacPatrick 'pursuing strategic options' following approaches from international and national companies
It has emerged the board of LacPatrick Dairies have agreed on pursing a number of strategic options to secure the future of the business.
In a statement it's Chairman Andrew McConkey said the move is with a view to identifying the best way forward for the business that is in the interest of its suppliers, shareholders, staff and customers.
He said this may or may not include partnerships, joint ventures, mergers and other opportunities to consolidate the dairy industry.
“The decision by the board of LacPatrick comes following a number of approaches from international and national companies from the sector in recent months,” he said.
The company currently handles and processes more than 600 million litres of milk from more than 1,000 farmers, with more than 500 million litres coming from suppliers in the North, and the remainder in the Republic, from in and around Monaghan.
It has three operations - in Tyrone, Coleraine, and in Monaghan, where it is headquartered.
Last month LacPatrick unveiled a "Brexit-proofing" technology centre in Co Tyrone in a £30m investment creating 20 jobs.
The site at Artigarvan near Strabane has now doubled its capacity, with a total workforce of 90, and will be able to make two new milk powder products for export.