Lakeland to invest €100m in acquisitions, after restructuring leads to drop in profits

Keith Agnew, Vice Chairperson; Niall Matthews, Chairperson and Colin Kelly, Group CEO of Lakeland Dairies.

Margaret Donnelly

Lakeland Dairies has earmarked €100m for acquisitions over the next five years in order to "move up the value chain" after it recorded an operating profit of €14.8m.

Its operating profit is down from €32m in 2022, and it recorded a net loss of €8m due to once-off exceptional expenses from restructuring processing facilities and from workforce redundancies.