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Belgian Inex buys Veco Dairy from Farmel
Belgian Inex buys Veco Zuivel from Farmel. According to both companies, the purchase of Veco is a strategic step that stems from the shared vision to create added value in the Dutch dairy landscape. For Inex it is also a new step on the Dutch market, although it has been commercially active there for a long time.
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Formally, it is still a proposed transaction, which will proceed subject to approval by the ACM. Inex and Farmel are no strangers to each other, as both companies are also active on the Belgian market and regularly do business with each other there. The announcement comes in the same month as three years ago, when Farmel took over Veco Zuivel from the Van Rouwendaal family. It hijacked the company then in front of Farm Dairy's nose path.
Active in consumer dairy
In recent years, it has proven to be quite a challenge to keep Veco Zuivel running well and it required a lot of attention. Inex is more specialized in these activities than Farmel, because it is also very active in consumer dairy in Belgium. The takeover allows Farmel to focus entirely on its core activities, such as providing services to dairy processors and optimally valorizing milk from its almost three hundred dairy farmers. "We see opportunities on the market and want to concentrate fully on them. The sale of Veco Zuivel gives us the space to realize these ambitions," according to the Emmeloord dairy company.
Veco Zuivel is pleased with the acquisition. "We believe that Inex can offer us the necessary expertise in the field of dairy production and value creation. Together we hope to further professionalize the company and take it to a higher level." Thanks to the continued collaboration with Farmel, Veco Zuivel can process various Dutch sustainable milk flows into various (fresh) dairy products. Veco Zuivel provides an important part of the dairy range at Jumbo.
Takeover a logical step
For family business Inex, the acquisition of Veco Zuivel is a logical step, as the activities of both companies complement each other well. "Our years of experience with long-life dairy on the Dutch market are complemented by the possibilities of Veco Zuivel in fresh dairy. The (Greek) yoghurt, skyr, butter and the wide organic range are a nice addition to our already wide product range."
Farmel Holding achieved a turnover of over €2023 million in 550 and a net result of €1 million negative, mainly due to Veco. Inex achieved a turnover of €324 million in the same year and booked a profit of almost €26 million.