Arla Finalises Sale of Crediton Dairy29 May 2013
UK - A management buy-out team has been successful in finalising a deal with Arla Foods amba to acquire its dairy at Crediton, Devon.
The merger is a condition required by the European Commission as part of the merger approval process for the merger of Milk Link, the British Dairy Cooperative and Crediton’s former owner, with Arla last October.
It was led by former Milk Link chief executive Neil Kennedy and former Milk Link group finance director Tim Smiddy.
Final EU approval is expected at the end of June for the sale, which was for an undisclosed fee.
With a milk processing capacity of around 200 million litres, the Crediton dairy employs 117 workers.
Long life milk and cream, flavoured dairy drinks, extended life milk and fresh bulk cream are currently processed at the facility.
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