First Milk to Sell Glenfield Dairy to Graham’s
First Milk has agreed to sell its Glenfield Dairy business based in Fife, Scotland to Graham’s the Family Dairy. The disposal of Glenfield Dairy follows a full strategic review by the First Milk board over the summer. It will allow First Milk to focus even more closely on its core businesses in hard cheese and liquid brokering.
“We are confident that this focus will deliver improved milk prices and a more sustainable business model for our farmer shareholders,” says Mike Gallacher, chief executive of First Milk. “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.”
Indeed, the turnaround plan is already starting to drive improvement with First Milk moving into a positive operating profit at mid-year, consistent with the phasing of our turnaround plan.
Robert Graham, managing director of Graham’s The Family Dairy, comments: “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 going forward.”
