Lakeland to acquire Bailieboro

Lakeland Dairies is to buy the Bailieboro milk processing business from the Kerry Group for €33m under a deal announced this lunchtime.

Under the deal, Lakeland will acquire the assets and businesses of Baileboro.

The move should consolidate its position as the fourth biggest dairy in the country.

The new merged business employs over 400 people.

It is expected the deal should be completed in six weeks.