Sale of Crediton Dairy
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Posted: 23 May 2013 | Arla Foods | No comments yet
Arla Foods amba has agreed to sell its Crediton Dairy milk drinks business to a management buy-out team…
Arla Foods amba has agreed to sell its Crediton Dairy milk drinks business to a management buy-out team led by former Milk Link chief executive Neil Kennedy and former Milk Link group finance director Tim Smiddy.
The sale of Crediton, for an undisclosed sum, was a condition required by the European Commission in giving approval for the merger in October 2012 of Milk Link, the British dairy co-operative and Crediton’s former owner, with Arla Foods amba.
The sale, which is conditional on the undertaking of TUPE consultation with employees (which has now commenced) and final European Commission approval, is expected to be completed by the end of June 2013.
Additional facts:
Crediton Dairy
- Product portfolio: Long life milk, long life cream, extended shelf life milk and flavoured dairy drinks and fresh bulk cream
- Milk processing capacity: c.200 million litres
- Number of employees: 117
