Wexford Creamery sale to Glanbia given green light
The controversial sale of Wexford Creamery to Glanbia Ingredients Ireland Limited (GIIL) has been given the green light by the Competition Authority.
The deal, which sparked a major row between different factions of Wexford suppliers, will now be finalised by the parties over the coming weeks.
The authority's decision has been welcomed by both Wexford Milk Producers Co-op, who own 70pc of Wexford Creameries, and GIIL.
Marty Murphy, chairman of WMP, said the decision meant the co-op could now proceed to complete the transaction.
Jim Bergin of GIIL said the Competition Authority decision would allow the company to actively engage with Wexford suppliers and management and staff of Wexford Creamery, with the aim of finalising all aspects of the purchase as soon as possible.
"The agreement with WMP represents a significant development in the consolidation of the dairy industry in the southeast and gives long-term security to milk suppliers and to the Wexford milk processing plant," Mr Bergin said.
The Competition Authority's move follows a decision earlier this year to launch a full inquiry into the proposed acquisition.