Tue, 20 Oct 2015 | BUSINESS SALE
Muller's purchase of Dairy Crest has been approved by the UK's Competition and Markets Authority.
The deal was first announced back in November 2014 but it has taken some time for the authorities to assess the competition in fresh liquid milk supply, particularly in the South West and Wales.
Now this has been cleared up the £80 million deal is due to complete by 27 December 2015 and will see Dairy Crest's liquid milk processing, distribution and trading divisions handed to Muller, along with its packaged cream, flavoured milk and bulk commodity ingredients business.
In terms of physical assets, the deal will also see the company's 70 depots across the country change hands, along with its plants in Gloucester, Essex, Derbyshire and Middlesex.
Dairy Crest's chief executive Mark Allen commented on the sale noting that it should help create a more sustainable UK dairy sector.
He added: “It will deliver economies of scale and cost efficiencies that will underpin investment in the sector and help the UK to compete more successfully in global markets.
“Dairy Crest will now be able to focus on growth, through both our branded cheese and spreads operations and new revenue streams from manufacturing products for the fast-growing global infant formula market.”
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