MD Foods sells Korean Dairy
- Read time:
- 1 min
- 25 February 2000
- Press contact
MD Foods has sold off its subsidiary in Seoul to Korea Dairy Holdings, a member of Citygroup. The dairy, which has 95 employees and an annual turnover of approx DKK 200 million, produces liquid milk and fresh products from locally produced milk.
Under its new owners, the Korean company will continue to handle the import and sales of MD Foods' products from Denmark, including mozzarella, Buko Cream Cheese and Lurpak butter.
The move is in keeping with MD Foods' strategy of focusing on European markets and certain selected markets outside Europe of which the planned merger with the Swedish dairy group, Arla, is a clear manifestation.
Arla Foods is an international dairy company owned by 9,700 farmers from Denmark, Sweden, the UK, Germany, Belgium, Luxembourg and the Netherlands. Arla Foods is one of the leading players in the international dairy arena with well-known brands like Arla®, Lurpak®, Puck® and Castello®. Arla Foods is focused on providing good dairy nourishment from sustainable farming and operations and is also the world's largest manufacturer of organic dairy products.