First Milk has agreed to sell its Manchester-based CNP Professional business to The Protein Partners.
The company took the decision after a full strategy review. First Milk said the move will allow it to focus more on its core product strategy of producing hard cheese and liquid brokering.
First Milk chief executive Mike Gallacher said: "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."
In November 2015, the company announced that it will sell its Glenfield Diary business to Graham’s The Family Dairy. The Glenfield Dairy business produced cottage cheese, quark and sour cream.
The sale of the business did not affect the employees at the Fife site and its contribution to the diary sector in the Scottish region.
First Milk, the only dairy company owned by British family firms, produces dairy products and ingredients for the UK and international markets.
Its product portfolio mainly includes fresh milk, cheeses such as cheddars, red Leicester and Double Gloucester along with dairy ingredients such as butters, skimmed milk powder and whey proteins.
Recently, the company owned by British family farms announced that the prices of its Grade B milk will increase from November and the price of Grade A milk will see a minor increase.
