IAWS Co-op in €64m bid for SWS

THE Irish Agricultural Wholesale Society (IAWS Co-op) has finally made an offer to acquire the business processing and sustainable energy divisions of South Western Services (SWS) of Bandon.

It has offered €64 million for key parts of the business of which €42.5m may be paid up front.

The co-ops will also have a share option scheme to choose from if they so wish under the terms of the deal. Initially the package on offer from Philip Lynch, chief executive IAWS Co-op, was €50m, with earn out bonuses still to be decided.