DAIRY farmer co-op First Milk has struck a deal to sell its Manchester-based sports nutrition business, CNP Professional, to The Protein Partners Ltd.
First Milk chief executive 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.
“Today’s announcement is also a good deal for our CNP employees, our customers and consumers," he insisted. "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.”
When First Milk acquired CNP back in 2012, its management at the time described the move as a "bold step into the functional food sector", which would add value to whey protein by following the example set by New Zealand dairy farmer co-op Fonterra's success with premium protein drinks.
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