Wexford Milk Producers (WMP) has agreed to take over Wexford Creamery, increasing its stake to 70 per cent in a deal worth €9 million. The deal was approved by 89 per cent of WMP farmer members in a vote taken on Thursday night.

The board of Wexford Milk Producers backed the proposal, saying it was in the long-term interests of its farmers.

The deal means Dairy Crest’s share in the creamery has been reduced to 30 per cent. The company will retain a minority stake and will provide services such as packing and distribution.