Last remaining farmers transfer to new milk purchasers

PricewaterhouseCoopers LLP (PwC), receivers and managers of Dairy Farmers of Britain (DFB), the milk cooperative that went into receivership on 3 June 2009, have today announced that the last remaining farmers will have either moved to their new milk purchaser or retired by the end of this week.

At the date of receivership DFB had 1,813 farmers supplying milk to the cooperative. PwCs strategy was to allow all farmers the freedom to find a new milk purchaser and they worked very closely with Defra, the Welsh Assembly, Dairy UK, the NFU, the Welsh Union of Farmers, plus other representative bodies to coordinate and help achieve this. Importantly, PwC’s strategy was also endorsed by DFB’s Member Council from the outset. This strategy culminated in an agreement with Milk Link at the end of June which ensured any remaining DFB farmers were offered new contracts.

A total of 1,758 farmers have now found new purchasers for their milk with just 55 choosing to retire from the industry. This means that when the final transfers take place at the end of this week, 97% of farmers will be continuing with their milk production.

David Kelly, joint receiver and partner at PricewaterhouseCoopers LLP said:

"The impact of the receivership has been very difficult for the farmers supplying DFB, but we are delighted that so many have been able to find a safe home for their milk. This represents a significant achievement given the complexities of the receivership and the DFB milk field which covered a wide geographical area. The deal with Milk Link at the end of last month has brought to an end much of the uncertainty that has faced farmers in recent months."