The Wiseman brothers are planning to sell a 15% stake in Robert Wiseman Dairies to First Milk for around £28m.

First Milk, a farmers’ cooperative which supplies Wiseman with a significant proportion of its raw milk requirements, would use the stake to strengthen its ties with the company.

Alan Wiseman, chairman of Robert Wiseman Dairies, said: “We believe this deal would strengthen the relationship that exists between the two organisations. There will be no change in the management of the company with the respective roles of myself and Robert remaining the same.”

The two brothers currently hold a 48% stake in the company.