The parent company of privately-owned dairy giant Muller has increased its stake in Dairy Crest, the UK’s largest processor.
It emerged yesterday afternoon (28 September) that Theo Muller Group, the holding company behind Muller, had snapped up more shares in the Clover butter and Cathedral City maker.
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The German group had 3.85m shares in Dairy Crest but it now has some 4.05m shares, taking its stake above the 3% level that triggers an announcement to the London stock exchange.
A spokesman for Dairy Crest said the company did know not why Theo Muller had built its stake in the business. “We’re not awfully clear about that,” the spokesman told just-food today. He added, however, that there had been no discussions between Theo Muller and Dairy Crest.
The UK firm is due to give a trading update to the City tomorrow. Two weeks ago, the company was forced to allay fears about its milk operations after a profit warning from rival Robert Wiseman Dairies hit shares in both businesses.
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