Robert Wiseman Dairies has purchased trade and assets in fresh liquid milk business Definitely Devon for around GBP0.8m (US$1.4m) in cash.
Wiseman has acquired the trade and certain assets of the Definitely Devon – jointly owned by local milk co-operative Torridge Vale and the Co-operative Group.
The transaction means Wiseman will gain a license to sell milk under the Definitely Devon brand, and manufacture and distribute clotted cream on behalf of Torridge Vale.
Wiseman chief executive Robert Wiseman said: “This acquisition will enhance our existing operations and efficiencies in the South West of England. It complements our planned expansion in this area with our proposed custom-built dairy in the Taunton area.
“Customer service and quality of product remain our top priorities and we are keen to demonstrate this to Definitely Devon’s customers.”
The acquisition is subject to an assessment of the volume of milk transferring, scheduled to be completed on 11 March 2006.
Definitely Devon currently supplies around 20m litres per annum, from its UK-based dairy and depot in Torrington, Devon.
