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Golden Vale in cheese acquisition

- 12 February 1999
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12 February 1999

Golden Vale in cheese acquisition


GOLDEN VALE, the Irish dairy group, has bought Dairyborn Foods, a UK producer of cheese-based products.

The deal is costing initially £8.5 million in cash and loan notes, with a profit-related deferred payment of up to £2m.

Dairyborn made £1.1m pre-tax on turnover of £14m in the year to September 30, when net assets were £1.2m and its debt £100,000.

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