Arla Foods amba has agreed to sell its Crediton Dairy milk drinks business to a management buy-out team led by former Milk Link chief executive Neil Kennedy and former Milk Link group finance director Tim Smiddy.
The sale of Crediton, for an undisclosed sum, was a condition required by the European Commission in giving approval for the merger in October 2012 of Milk Link, the British dairy cooperative and Crediton’s former owner, with Arla Foods amba.
The sale, which is conditional on the undertaking of TUPE consultation with employees (which has now commenced) and final European Commission approval, is expected to be completed by the end of June 2013.
Notes to editors
Product portfolio: Long life milk, long life cream, extended shelf life milk and flavoured dairy drinks and fresh bulk cream
Milk processing capacity: c.200 million litres
Number of employees: 117
Arla Foods UK plc is home to some of the UK’s leading dairy brands including Cravendale, Lurpak, Tickler and Anchor. Processing approximately 3.2 billion litres of milk a year and with a turnover of approximatey £2bn Arla is the UK’s largest dairy company.
Over 4,000 daily deliveries are made to stores and regional distribution centres nationwide, Arla's brands can be found across the dairy category and the company has a 26 per cent share of the GB milk pool. Behind this leading business is a team of circa 4,000 people across the UK located at our dairies, distribution centres and head office.