Arla Foods Sells UK Dairy Plant
Arla Foods 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 co-operative and Crediton’s former owner, with Arla Foods.
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.
Crediton Dairy produces long life milk, long life cream, extended shelf life milk and flavoured dairy drinks and fresh bulk cream. It has a milk processing capacity of about 200 million litres and employs 117 people.
