Sector News

Denmark’s Arla Foods to drop bid for Egypt’s Arab Dairy

December 3, 2014
Consumer Packaged Goods
(Reuters) – European dairy produce cooperative Arla Foods Amba has dropped its bid for Egyptian Arab Dairy Product Company, Arla Foods said on Wednesday.
 
The decision came after Denmark’s Arla completed due diligence on Arab Dairy Product Company.
 
“Our conclusion based on the study is that we will not make a binding offer to Arab Dairy,” said head of Arla’s Consumer International Finn S. Hansen in the statement.
 
Arla Foods said on Sept. 11 it has placed a non-binding bid for shares in the Egyptian company. (Reporting by Ole Mikkelsen, editing by Louise Heavens)

comments closed

Related News

April 26, 2024

Haleon names new Finance Chief and new CHRO

Consumer Packaged Goods

Consumer healthcare firm Haleon has appointed Tate & Lyle executive Dawn Allen as its new chief financial officer, effective 1 November 2024. Allen will succeed Tobias Hestler, who has decided to step down from the role, citing a long-term health condition, the company said.

April 26, 2024

Campari to double Aperol production capacity with €75m investment

Consumer Packaged Goods

The group said that the bottling line, which adds 6,500 square metres to the existing 60,700-square-metre site, is the next necessary stage in the company’s international development. The leading brand in Campari Group’s global sales, demand for the Italian bitter apéritif has grown by 500% in the last decade.

April 26, 2024

Coca-Cola enters $1.1bn strategic partnership with Microsoft

Consumer Packaged Goods

The partnership will see Coca-Cola adopt new technology to foster innovation and productivity globally. Through the deal, Coca-Cola has made a $1.1 billion commitment to the Microsoft Cloud and its generative AI capabilities.

How can we help you?

We're easy to reach