FrieslandCampina plans to divest parts of its German consumer business to Unternehmensgruppe Theo Müller, including a portfolio of brands and three German plants.
The transaction will include the Landliebe, Tuffi, Südmilch, Puddis and Mondelice brands, private label products in FrieslandCampina’s white dairy range, foodservice brand Gastro, as well as three manufacturing facilities located in Heilbronn, Cologne and Schefflenz. The dairy giant will continue to market and distribute international brands within Germany such as Valess, Chocomel drinks and its Frico and Holland Master cheese businesses.
Roel van Neerbos, president of FrieslandCampina’s food and beverage division, said: “The market position and results of FrieslandCampina Germany have improved significantly in recent years through targeted measures. Nevertheless, we are convinced that in the new owner, the Unternehmensgruppe Theo Müller, we have found a suitable successor who, through synergy benefits, will be able to further develop this company successfully.”
He added: “FrieslandCampina will continue to focus on selling its strong international brands in Germany which is one of our home markets”.
The transaction is subject to customary closing conditions and is anticipated to be completed before the end of 2022.
Financial terms of the deal were not disclosed.
By Lauren Ford
Source: foodbev.com
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