PRESS RELEASE
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- Published:
- 21 April 2005
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The Arla Foods - Campina merger abandoned
Following the final negotiations, the Boards of Directors of Arla Foods and Campina have concluded that it has not been possible to present at this time a joint merger proposal to the two companies’ Boards of Representatives.
Consequently, the two Boards have agreed to abandon further merger talks. As in all merger processes the two companies cannot elaborate on the reasons for this decision.
”We have enormous respect for Campina and regret that we could not reach a satisfactory result this time around,” said Arla Foods’ Chairman Knud Erik Jensen. ”We will part as friends and it could well be that we continue our dialogue at some future stage.”
Arla Foods has a strategy for going forwards: increased focus on added value speciality cheese for export markets and continued growth through the Lurpak brand. Developing the home markets against increased imports is another important part of the future strategy as is increasing exports to the UK market. The Group will continue to pursue its cost-cutting measures and demands for greater efficiency.
Åke Modig, Arla Foods Managing Director, has announced his resignation.
“The Board and I have agreed that I leave the company now that the outcome of the merger process has been decided. However, I will remain Managing Director until the Board has appointed my successor.
Arla Foods is an international dairy company owned by more than 8,400 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.
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