Swedish dairy co-operative Skånemejerier said today (11 January) it expects its sale to French dairy giant Lactalis to go through at the start of March.
Skånemejerier provided the update after its a majority of its council members voted to change the statutes governing the company – a condition of the deal with Lactalis.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The co-op’s members voted to back a measure that would see Skånemejerier only supply Lactalis with milk once the deal was signed.
Lactalis is looking to buy 100% of Skånemejerier, a spokesperson for the co-operative confirmed, although he declined to comment on reports in France that the the company will be offloaded for EUR113m (US$143.2m).
Skånemejerier sells products including milk under its namesake brand, Allerum cheese and Bravo fruit juices.
In 2010, Skånemejerier reported net profit of SEK300.2m (US$43.2m), up sharply from SEK26.9m a year earlier. The jump in earnings was due to the proceeds of the sale of a majority stake in juice business ProViva to Danone. Skånemejerier reported an operating loss of SEK52.1m as costs increased. Sales rose 10.8% to SEK3.31bn.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
