Muller to buy Robert Wiseman Dairies

UK-based Robert Wiseman Dairies, the country’s biggest fresh milk company, is to be taken over by Muller Dairy of Germany. The purchase price is a cash offer of 390p per share, which is 60 per cent above the value at close of Robert Wiseman’s shares on Thursday, according to the BBC News website.The Wiseman family, which owns 35 per cent of the company, will receive a total of £98m (EUR118 million). Exactly half of that sum will go to executive chairman Robert Wiseman, and his brother Alan will get £35m. Dairy farmer co-operative First Milk, which owns 10% of Wiseman, will receive £27.9m.

Robert Wiseman says: “The combination of Muller and Wiseman makes strong commercial and strategic sense, creating a leading integrated dairy business in the United Kingdom with complementary positions in the yogurt and potted desserts market and the fresh milk market. Wiseman has its origins as a family business and, since listing in 1994, my family has retained a significant stake in the business. It is heartening to know that the business will become part of another family-owned business in Muller.”