A consortium of farmer-owned milk cooperatives said it has negotiated outline terms of a deal that could prevent milk processor United Milk from going out of business.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The cooperatives said that the deal with receivers PricewaterhouseCoopers had not yet been finalised, but that both sides were confident of success, reported Reuters.
“Working together, we have developed a business plan for the Westbury factory which provides the plant with a commercial future and offers farmers access to intervention markets,” the consortium, which groups Dairy Farmers of Britain, First Milk and Milk Link, said in a statement.
The consortium made an offer to buy the Westbury-based plant last month after managers had called in the receivers. The offer has since been revised.
United Milk, which employs 125 people, has a processing capacity of 2.4 million litres per day and an annual turnover of £100m (US$161.4m).
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
