Lakeland Dairies sells stores for €20m

Lakeland Dairies has sold its 16 agri-trading outlets under the co-op's restructuring programme announced earlier this year.

The stores at Losset, Templeport, Corrigan, Kilnaleck, Grousehall and Carrickallen in Co Cavan, and at Gortermone, Co Longford, have been purchased by the tenants who have been operating the stores on a franchise basis for a number of years.

The stores will continue to operate as agri-trading outlets. The rest of the stores have been purchased by Heron Limited, a Derry-based company.

A spokesman for Lakeland Dairies confirmed the stores had achieved well in excess of the guide price of €20m and that a substantial number of them were to remain trading.

Also, the spokesman stressed that Lakeland Dairies would now move quickly to establish alternative outlets for their feedstuffs in the areas where they had traditionally operated stores.