AMSTERDAM (Reuters) - Dutch dairy collective FrieslandCampina has agreed to merge with smaller Belgian rival Milcobel, it said on Wednesday, creating a company with combined revenues of more than 14
FrieslandCampina to Merge with Belgian Rival Milcobel
AMSTERDAM (Reuters) - Dutch dairy collective FrieslandCampina has agreed to merge with smaller Belgian rival Milcobel, it said on Wednesday, creating a company with combined revenues of more than 14 billion euros ($14.66 billion).
No financial details of the deal were disclosed.
The merged company would be active in 30 countries, with almost 22,000 employees worldwide with dairy delivered by around 11,000 member companies.
FrieslandCampina had revenues of 13 billion euros in 2023, while Milcobel had 1.4 billion euros in sales.
The takeover does not include Milcobel's ice-cream division Ysco, which will be sold, the companies said.
The companies aim to present a detailed plan for their deal early next year.
($1 = 0.9550 euros)
(Reporting by Bart Meijer; Editing by Jan Harvey)
