GERMANY: Arla wins EU approval for Allgauland-Kasereien
Arla Foods has received EU approval for its takeover of Allgauland-Kasereien
Dairy giant Arla Foods has today (8 November) received EU approval for its purchase of German dairy co-operative Allgäuland-Käsereien.
With EU's competition authorities giving Arla the green light, the company said its aim is to become one of the Germany's leading dairy companies.
The dairy giant made an initial bid in July but one of the six co-operatives that comprise Allgäuland-Käserien rejected the offer. In September the company came one step closer as the final co-operative voted in favour of the move.
Arla executive vice president Tim Ørting Jørgensen said: "We see important potential in Allgäuland-Käsereien's cheese production. They produce excellent speciality cheeses for which there is important international potential and it is for this reason that the dairy is of interest to Arla Foods."
"Some of their products will supplement the cheeses Arla already makes, among them the cheeses marketed under the House of Castello quality brand. We see great potential in Allgäuland's products and not only in Germany," he added.
With an annual turnover of EUR307.8m (US$422.6m), Allgäuland-Käsereien has four production plants, 306 employees and 1,338 milk producers.
Earlier this year, Arla merged with another German dairy, Hansa-Milch, which produces fresh dairy products in the north of the country.
Dairy giant Arla Foods said today (23 February) that 2012 profits would be "on par" with last year, when its consumer brands and ingredients divisions boosted earnings....
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