Bid to keep Newmarket co-op independent

KERRY Group should not be allowed to take over the Newmarket Co-op, a Dáil deputy declared yesterday.

Fianna Fáil TD Michael Moynihan, was responding to increasing speculation that Kerry Group is considering a bid for the county Cork co-op which recorded sales of €87.6 million in 2008.

He said that he had nothing against Kerry Group, but firmly believed Newmarket should continue to be an independent co-op.

This was vital for the future of the country’s co-operative movement and for the dairy industry, he said.

Mr Moynihan said Newmarket Co-op’s future must be protected in the interest of its suppliers’ shareholders, employees, the local community and the agricultural economy.

A shareholder in the co-op and a former supplier, he said in any takeover jobs would be jeopardised.

This would be very worrying for Newmarket and its hinterland.

The co-op has done a good job over the years. It has won major awards for the quality of its cheese, he said.

And it is to the forefront among co-ops in consistently paying the best possible price for milk, he added.

IFA dairy committee chairman Kevin Kiersey said speculation was all that was available so far about a possible Kerry bid for Newmarket.

The focus has to be on the importance of the farmer-supplier and paying a viable price in any new arrangement, he said.

ICMSA dairy committee chairman Pat McCormack said its priority, if Kerry makes a formal offer for Newmarket, will be to ensure the best deal possible is delivered for the 160 milk suppliers.