The boards of Arrabawn Co-operative Society Limited (Arrabawn) and Tipperary Co-operative Creamery Limited (Tipperary) have reached agreement on terms for a merger. The boards met separately in Nenagh and Tipperary yesterday to discuss the proposed amalgamation following the completion of thorough due diligence by independent experts on both sides.
The recommendation to merge will now be put to the respective shareholders of both co-operatives at Special General Meetings to be held on Thursday 7 November. The merger is also subject to regulatory approval.
The new merged co-op will be called Arrabawn Tipperary Co-operative Society Limited and will be a dairy and agri-trading co-operative, owned and controlled by over 4,800 members, with more than 1,400 milk suppliers supplying almost 750 million litres of milk annually. This will position the new Co-Op to have projected annual turnover exceeding €700 million.
The announcement of the unanimous agreement by the boards to merge was made jointly by the Chairperson of Arrabawn, Edward Carr and, the Chairperson of Tipperary, William Ryan. As of now no details of possible job losses due to the merger have been mentioned in the statement issued on behalf of the two neighbouring organisations.
