FrieslandCampina has acquired all remaining shares in Friesland Huishan Dairy (FHD), a joint venture it set up in 2014 with Huishan to sell infant formula in China.
As a result, FHD is now a 100% owned subsidiary of FrieslandCampina. Besides infant formula, FHD produces tea creamers and coffee creamers on behalf of other FrieslandCampina companies. The FHD plant is located near Shenyang in Liaoning Province.
Upon announcement of the joint venture in 2015, the companies said that the collaboration would benefit from each of their production, sales and marketing capabilities.
In the past year, FrieslandCampina has undergone a number of structural adjustments. Last June it announced it would build a 70,000-square-metre distribution centre in the Netherlands, consolidating its activities across four current warehouses in the country. Meanwhile, its Gütersloh plant in Germany is due to close in the second quarter of 2018.
In August, the Dutch dairy cooperative offloaded its fruit juice producer Riedel to Dutch-based firm Standard Investment.
There have been two new additions to the company’s executive board this year, with the appointment of Hein Schumacher as CEO and Jaska de Bakker as CFO.
Carlsberg has announced the departure of its chief financial officer (CFO), Heine Dalsgaard, after six years in the position. In a statement, Carlsberg said that Dalsgaard was resigning from the post to take up the role of CFO at a private equity-backed company in a different industry.
Kellogg will split into three independent companies to focus on the snack business, Reuters reported Tuesday. The snacking portfolio will comprise the main business, while the North America cereal unit and the plant-based business will be spun off. The company is also considering a sale of the plant-based business.
The snacks giant says the acquisition will help build on its commitment to “lead the future of snacking” in key geographies worldwide. Once the transaction is completed, Mondelēz will continue to operate the Clif Bar business from its headquarters in Emeryville, California. The snack giant will also continue to manufacture Clif Bars’ products, which include Clif Bar, Luna and Clif Kid, at its facilities in Idaho and Indiana.