Leading Czech food processor Agrofert has acquired a 54% stake in dairy cooperative Milkagro.
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The additional share capital remains in the hands of Milkagro’s 160 farmer-owners from Moravia, the head of Agrofert’s agricultural division Jaroslav Faltynek told just-food.
Milkagro’s core activities include the re-sale of raw milk. The company also holds a 51% stake in the Czech Republic’s second-largest dairy processor, Olma, and operates a meat plant in Martinov, in the north of Moravia.
Agrofert primarily produces baked goods and meat products for the Czech market.
The general director of Agrofert, Andrej Babis, told just-food that the deal does not mean that it is eyeing further dairy acquisitions, rebuffing the suggestion that it is interested in taking over the number one Czech milk products manufacturer Jihoceské mlékárny.
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By GlobalDataAgrofert’s acquisition of Milkagro was approved by the country’s Office for the Protection of Economic Competition.
