Deal is part of wider growth plan
Graham’s acquires Glenfield Dairy in Fife
Graham’s has acquired the Glenfield Dairy in Fife from First Milk as part of its wider growth strategy, which sees the firm expand its product range.
The Glenfield site produces cottage cheese, quark and sour cream, which will continue to be produced when Graham’s takes over the business on 2 December.
The deal comes a week after Graham’s was named top Scottish dairy brand in Scotland by Kantar Worldpanel.
Robert Graham (pictured), managing director, said: “This is an exciting acquisition for us as it allows us to extend our product range for customers and consumers even further, with the addition of cottage cheese and quark. In addition, this deal presents great potential to explore further new product development.
Mike Gallacher, chief executive of First Milk said: “The sale of Glenfield Dairy follows a full strategic review by the board over the summer.
“It will allow us to focus even more closely on our core businesses in hard cheese and liquid brokering. This is already starting to drive improvement with the business moving into a positive operating profit at mid-year, consistent with the phasing of our turnaround plan.
“We are confident that this focus will deliver improved milk prices and a more sustainable business model for our farmer shareholders. Today’s announcement is also a good deal for our Glenfield employees, our customers and consumers. Glenfield fits well with Graham’s other well-established dairy operations and the sale protects employment at the site and hence the broader Scottish dairy sector.”