Lakeland Dairies is now Ireland's third largest milk processor

Lakeland Dairies is now Ireland’s third biggest dairy processor, having acquired Fane Valley’s dairy business for an undisclosed sum.

Lakeland will now be able to process up to 1.1bn litres of milk annually, third only to Glanbia’s annual two billion litres and the 1.157bn litres Dairygold processed in 2015.

In August of 2015, the Co Cavan-based co-op unveiled plans to enter a series of strategic joint ventures with Fane Valley, based in Banbridge, Co Down, which would have involved the dairy and agri-business interests of the respective businesses.