German dairy co-operative Nordmilch said today (21 June) that it expects its planned merger with local peer Humana Milchindustrie to go through in January next year.
Nordmilch, which published its annual results for 2009 today, said it would “soon” file an application to the German competition watchdog for approval for the deal.
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The company said the farmer-members of both co-ops would be told the details of the merger at their annual assemblies last this year.
Farmer-members on both sides are expected to clear the deal at extraordinary meetings by the end of the year, Nordmilch said.
The two co-ops have already combined their sales divisions to form Nord-Contor Milch.
Nordmilch CEO Dr Josef Schwaiger said that move was a sign German dairies knew it had to take part in the wave of consolidation taking place in the wider sector.
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By GlobalData“A comparison of the development of the dairy industry in Germany with that in neighbouring European countries clearly reveals that Germany needs further consolidation to survive in international competition in the long term,” Dr Schwaiger said.
