News Takeover
FrieslandCampina sells German branch
FrieslandCampina's German consumer activities will be transferred to Unternehmensgruppe Theo Müller, the Dutch dairy cooperative has reported. The German branch was not exactly a cash cow for FrieslandCampina.
With the deal, the German consumer activities, including three production locations in Heilbronn, Cologne and Schefflenz, will be transferred to Müller. Brands such as Landliebe, Tuffi, Puddis, Mondelice and various private labels will also be divested. FrieslandCampina itself continues to market international brands such as Chocomel, Frico and Valess in Germany. The company will also continue its Professional business in Germany.
In addition, FrieslandCampina will also remain present with Kievit in Lippstadt and with DFE Pharma in Goch and Nörten-Hardenberg. The dairy cooperative continues to collect the milk from the German members itself.
Results improved
Long gone fell the results in Germany strongly against, but they say they have improved in recent years. Nevertheless, FrieslandCampina believes that a sale is the best option. Roel van Neerbos, president of FrieslandCampina Food & Beverage, believes that Müller is a new suitable owner for the German consumer business that will be able to further develop synergy benefits.
FrieslandCampina does not wish to disclose the financial details. The Council of Members still has to approve the transaction, the vote for this will take place on 20 June. The deal is expected to be fully completed by the end of this year.
Wouter Job
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