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MD Foods sells Korean Dairy

Press Release   •   Feb 25, 2000 09:57 CET

MD Foods has sold off its subsidiary in Seoul to Korea Dairy Holdings, a member of Citygroup. The dairy, which has 95 employees and an annual turnover of approx DKK 200 million, produces liquid milk and fresh products from locally produced milk.

Under its new owners, the Korean company will continue to handle the import and sales of MD Foods' products from Denmark, including mozzarella, Buko Cream Cheese and Lurpak butter.
The move is in keeping with MD Foods' strategy of focusing on European markets and certain selected markets outside Europe of which the planned merger with the Swedish dairy group, Arla, is a clear manifestation.