DENMARK: Arla buys up flavoured milk maker
Arla Foods has bought out the remaining 50% share of flavoured milk maker Cocio Chokolademaelk it did not already own.
Cocio sells mainly into the Danish market but also has private branded business in Germany, the UK and the US.
The company, based in the western port of Esbjerg, has 50 employees and an annual turnover of DKK200m (EUR27m). The 50% stake was previously owned by two holding companies, E. Bank Lauridsen Holding and IAT Holding.
Cocio produces iced coffee and chocolate milk products for Arla, including Matilde Cafe, Pucko and Cafe Mat brands.
Arla said the takeover would strengthen its hand in a sector that is growing by 5%-6% annually.
Cocio MD and former co-owner Erik Bank Lauridsen added: "This will give us access to a lot of new markets and allow us to roll out new products."
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