FrieslandCampina has opted to offload its Creamy Creation cream liqueur manufacturing business to Wagram Equity Partners, a Dutch private investment company.
Founded in 1979, Creamy Creation is based in Rijkevoort, the Netherlands and the company is a leading producer of alcoholic cream liqueurs, which are available to customers in several international markets.
FrieslandCampina has agreed to the sale as the unit no longer formed part of the company’s long-term business strategy. In a statement, the company said that it wanted “to focus more on nutritional and functional solutions with its ingredients.”
According to FrieslandCampina, the transaction includes the Creamy Creation production site in Rijkevoort, as well as a sales office in New Jersey, US.
As a condition of the transaction, Wagram will start producing canned cream for FrieslandCampina at the Rijkevoort site.
The deal is subject to regulatory approvals, and is expected to close before the end of 2019.
By Martin White
Source: FoodBev
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