Medina Dairy and Freshways Dairy agree merger
Freshways Dairy, based in Acton (UK), and Medina Dairy, based in Windsor, have confirmed that they have agreed to merge. In doing so, they strongly believe that the merger will establish a sustainable and progressive dairy business that will be in the best interests of their combined staff, customers and the British dairy farmers that supply them.
The merger, subject to regulatory approval, will create the basis for a viable, long term, fresh liquid milk business. A business with the requisite scale and agility to compete with the two large players which dominate the dairy sector in the UK.
The new business will have a combined turnover of c. £400 million; employ 1,000 staff and process in the region of 500 million litres of British Red Tractor farm assured milk. A new complementary Board and management structure will be put in place to oversee the merger, ongoing operations and strategic development of the combined business with Sheazad Hussain (currently chief executive of Medina Dairy) and Bali Nijjar (currently managing director of the Freshways group of companies), being appointed as joint managing directors.
Commenting on the merger, Bali Nijjar and Sheazad Hussain said: “Throughout our discussions it has become increasingly apparent how complementary both businesses’ capabilities and cultures are. As such, through merging we will be able to harness these synergies to create a leaner, more agile and fit for purpose business. A business that will benefit customers, consumers and suppliers and ultimately, we believe, will be well placed to grow and develop in a sustainable manner for the long term.”