News Milk
Farm Dairy still wants to take over, Veco is looking further
Dairy company Veco Zuivel is entering into talks with another party now that the planned acquisition by Farm Dairy has not been successful. This is what director Alexander van Rouwendaal says. Farm Dairy, however, remains interested in a takeover.
At the beginning of last week, the Netherlands Authority for Consumers and Markets (ACM) announced that the notification of a planned takeover had been withdrawn. Farm Dairy states that as far as it is concerned there is no question of a failed takeover. Previously, the pause button was pressed, director Arend Bouwer reports. "We remain interested in an acquisition."
No Spoiled Relationships
Van Rouwendaal says that as far as Veco Zuivel is concerned, there are no bad relationships either. "The acquisition that we thought we could close has simply turned out to be more difficult than we first anticipated. It's a shame it didn't become a deal."
Veco Zuivel produces various (private label and branded) dairy products, including milk, buttermilk, yoghurt, drinking yoghurt, quark and butter. Veco Zuivel focuses strongly on organic dairy. Farm Dairy mainly produces dairy under private label for retail and works on a larger scale than Veco. Farme Dairy is jointly owned by the De Bruijne family and FrieslandCampina. Veco Dairy belongs to the Van Rouwendaal family.
When announcing the acquisition intention in June, both parties reported seeing many synergy benefits in the planned move.
Klaas van der Horst
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