North Cork and Newtownsandes suppliers to vote on merger proposal
The Boards of North Cork Co-operative Creameries (Kanturk, Co. Cork) and Newtownsandes Co-operative (Moyvane, Co. Kerry) have unanimously agreed to recommend the merger of the two Societies to their respective memberships.
The agreement reached between the two Boards of the co-operatives is now subject to approval by their respective shareholders and will also be subject to regulatory approval by the Competition and Consumer Protection Commission (CCPC).
North Cork and Newtownsandes will hold separate SGMs on December 12.
The Boards of both societies are unanimously recommending their members to vote in favour of all resolutions to approve the merger proposal.
Both co-operatives are friendly and neighbouring societies who already work closely together in a commercial dairy processing arrangement - whereby North Cork Creameries already processes some 23m litres of milk annually into a range of high quality dairy products for Newtownsandes.
On completion of the proposed merger, the businesses of both co-operatives will be merged with all current milk collection and processing arrangements continuing as normal.
North Cork Co-operative Creameries will then process over 240m litres of milk annually, with an already well invested capacity to increase processing throughput to over 360m litres, and this will cater for the ongoing expansion by milk producers across its operating region.
Both co-operatives have been in discussion since January about the possibility of an amalgamation and this has now reached a successful conclusion. The discussions have been facilitated by the Irish Co-operative Organisation Society (ICOS).