Dairy co-ops’ merger approved
Thurles and Centenary shareholders voted by 86% and 92% respectively in favour of the merger at separate special general meetings.
The new Centenary Thurles co-op will have a combined turnover of around €62 million and a milk pool of 94.5 million litres.
Tom Commins is the chief executive designate and the co-op will have its headquarters in Thurles.
A full board of management will now be elected.
Both co-ops are considered to have complimentary operations.
They will now work together to exploit any and all benefits which can be achieved from the merger across dairy operations, agri-trading, retailing and other interests.
In a joint statement following the votes, the present chairmen of Thurles and Centenary, Jackie Cahill and Jim Maher, said shareholders had shown “vision and foresight” in the best long-term interests of both co-operatives.
“The merger of our two societies, which have proud and longstanding traditions of agricultural excellence, will strengthen the hands of all of our producers for the future.
“Working together, this will serve to safeguard the viability of co-operative farming and its contribution to rural economic development throughout our region,” the chairmen added.
Centenary currently has a milk pool in excess of 78 million litres, about 400 suppliers and employs 72 people with an annual turnover in the region of €44m.
With a milk pool of some 16 million litres from about 70 suppliers, Thurles employs 90 people and has a turnover of around €18m per annum.
The Irish Co-operative Organisation Society (ICOS), the co-ops national umbrella body, were key advisers on both sides of the merger process.
Financial controller Shane Dolan and southern regional officer Sean Myers had been seconded to Thurles Co-op for the past six months.
Both will now return to their ICOS roles.
