The monopoly commissions in a number of EU countries have agreed to Europe’s latest major dairy takeover.
Dutch processor Friesland Coberco first announced plans for the takeover of Nutricia Dairy & Drinks Group last spring, but it has taken until now for the deal to be finalised. Friesland has paid E664 million for Nutricia, which will be renamed Friesland Dairy and Drinks.
The move adds some top-selling products to Friesland’s range, including the functional food Drinkfit in Germany and the market leading flavoured milk drink Chocomel in the Netherlands and Belgium. Friesland, which processed 5.9 million tonnes of milk in 2000, believes the move will strengthen its current strategy of concentrating on strong brands. Meanwhile, Royal Numico, the parent company of Nutricia, will focus on its core businesses – baby foods, clinical nutrition and nutritional supplements.
The acquisition will provide Friesland with a potentially profitable gateway to the East. Nutricia’s presence in Central and Eastern European markets is strong with activities in Hungary, Romania, the Czech Republic and Slovakia.