Arla Foods’ purchase of Finnish Ingman Foods approved
- Read time:
- 1 min
- 16 January 2007
- Press contact
The EU Commission has given the go-ahead for Arla Foods’ purchase of 30% of the shares in the Finnish dairy company, Ingman Foods Oy Ab.
The EU Commission has now approved Arla Foods’ purchase of 30% of the shares in Finland’s second largest dairy company, Ingman Foods Oy Ab. The acquisition was announced on November 8, 2006 and is part of Arla Foods’ focus on the Nordic market. Over the next three year period, Arla Foods has the option to acquire the remaining 70% of the shares.
The partnership will take effect immediately while the purchase will be formally completed over the newt few days. The new joint company will be known as Arla Ingman Oy Ab and will have a turnover of around 300 million euros and employ just over 500 people (Ingman Ice Cream Oy Ab is not part of the deal).
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.