Arla Foods buys the chocolate milk business Cocio
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- 08 January 2008
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Arla Foods has acquired the remaining shares in Cocio Chokolademælk A/S, in which Arla already holds a 50 pct. stake.
Cocio Chokolademælk A/S produces chocolate milk mainly for the Danish market. The company, which employs a workforce of 50 at its plant in Esbjerg, already makes a range of Arla Foods’ products, including Matilde Café, Pucko and Café Met.
Cocio Chokolademælk also exports to the Nordic area, Germany, the UK and other European markets as well as to the United States. Annual turnover totals approx. 200 million DKK.
The acquisition is set to strengthen Arla Foods’ activities within the flavoured milk segment, which is currently growing at a rate of 5-6 pct. per annum.
”We’re pleased to have acquired the remaining shares in Cocio. As sole owners of the business, we will have a stronger position for co-ordinating our operations within the existing flavoured milk categories, which are areas on which we want to focus more strategically. Our intention is for Cocio to continue along the same lines as today, but the new structure will allow for better utilisation of skills and the creation of new synergies,” says Arla Foods’ Vice CEO Povl Krogsgaard.
The acquisition took effect on January 1, 2008. The purchase price has not been disclosed.
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.