| 8.8°C Dublin

Creameries sell-off

DONEGAL Creameries has agreed to sell its milk and retail businesses to the Connacht Gold Co-op.

Connacht Gold will pay €13.5m in cash for the enterprises, with further payments of up to €7.4m dependent on the performance of the milk business this year.

The co-op said the deal involved Donegal Creameries' 120 million litres milk pool, a liquid milk processing facility at Killygordon and 11 retail stores, nine in Donegal and two in Northern Ireland. The stores mainly sell fertiliser, feeds and other products to farmers.