PricewaterhouseCoopers LLP are pleased to announce the sale of Lubborn Cheese Limited (Lubborn) to Lactalis McLelland Limited (Lactalis McLelland).
Lubborn Cheese Limited was part of the Dairy Farmers of Britain co-operative, but was not placed into receivership on 3 June along with the rest of the co-operative. This allowed the PwC corporate finance team to continue with the sale process for that part of the business.
The Lubborn Creamery, in Cricket St. Thomas, south Somerset, is a market leader in the UK soft cheese market, with its unique range of quality Somerset Brie, Somerset Camembert and Capricorn goat’s cheese ranges. Lactalis McLelland is behind some of the UK’s best known cheese brands including the award winning Seriously® cheddars, Orkney, Galloway and McLelland Mature cheeses. Lubborn represents an excellent fit with its existing range of quality brands and products.
The deal also represents an opportunity for local DFB farmer members to continue to supply milk to the plant they have loyally supported in recent years. Lactalis McLelland are keen to continue the plant’s excellent relationship with these farmers and offer ongoing supply contracts for their milk.
David Kelly, receiver and manager of Dairy Farmers of Britain Limited, said:
"We are pleased to secure such a strong buyer for the Lubborn Creamery, which will ensure the continued employment of workers at the site and the opportunity for DFB farmers to continue supplying the plant they have helped build up.
"Lactalis McLelland were an obvious acquirer of the Lubborn business and emerged as the most credible buyer following a carefully managed process run by our corporate finance team over a number of months. We hope they continue to build on the success of the Lubborn business in the future".
ENDS
