Sector News

First Milk sells CNP to the Protein Partners

October 26, 2016
Food & Drink

First Milk has announced the sale of CNP Professional to The Protein Partners Ltd.

The Manchester based business which specialises in sports nutrition, was sold following the completion of a full strategy review.

Chief executive of First Milk Mike Gallacher said: “The sale of CNP follows a full strategic review by the Board last year.

“It is the final step in allowing us to focus even more closely on our core businesses in hard cheese and liquid brokering.

“This focus is delivering improved milk prices and a more sustainable business model for our farmer shareholders.”

Mr Gallacher said the announcement was a ’good deal’ for the CNP employees, customers and consumers.

“The brand CNP and the Hyde site will form a key part of the future strategy of the Protein Partners and as such the sale protects employment at the site.”

Source: FG Insight

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