Following the completion of a full strategy review, today First Milk is announcing that it has agreed to sell its CNP Professional business based in Manchester to The Protein Partners Ltd.
Mike Gallacher, chief executive of First Milk 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. 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."