UK – Co-operative Milk Link has teamed up with Glanbia to create a cheese joint venture.

The deal makes Milk Link the first major UK co-op to buy significant processing power. The complicated deal will see Glanbia sell its UK subsidiary Glanbia Foods Ltd to a new company, Cheese Company Holdings Ltd (CCH). This is 75% owned by Milk Link and 25% owned by Glanbia.

Initially, Milk Link will pay