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Photo credit: FrieslandCampina

Transaction

FrieslandCampina plans to sell parts of its German consumer business to the Theo Müller group

1:41 min Management
Amersfoort, Netherlands

Royal FrieslandCampina NV plans to sell parts of its German consumer business to the Theo Müller group. The agreement includes the Landliebe brand and three German production sites. In the future FrieslandCampina will focus on expanding the successful business with international brands such as Chocomel and Valess, its Professional business and some private labels produced abroad in Germany. The approximately 1,000 employees of FrieslandCampina Germany were informed about the planned sale.

With the planned transaction, FrieslandCampina will sell the following business activities to the Theo Müller Group: the Landliebe, Tuffi, Südmilch, Puddis, Mondelice brands, the white line private labels produced by FrieslandCampina in Germany, the Gastro food service brand and the production sites, warehouses and Logistics in Heilbronn, Cologne and Schefflenz.

In future, FrieslandCampina Germany will focus on the marketing and distribution of its international brands Valess, Chocomel, its cheese brands - including Frico and Holland Master - and the private labels produced by FrieslandCampina abroad - such as cheese and spray cream. The company will also continue its professional business. FrieslandCampina will also remain present with Kievit in Lippstadt and with DFE Pharma in Goch and Nörten-Hardenberg.

FrieslandCampina will continue to collect and process the milk from its German member dairy farmers. For the German member dairy farmers, the rights and obligations associated with membership in the cooperative continue to apply. You continue to be entitled to the FrieslandCampina guaranteed price, the additional cash payment, the named reserve and, if applicable, any surcharges. The new owner will take over the contracts of the German supplying non-member dairy farmers.

Member of the Executive Board of Royal FrieslandCampina and President of FrieslandCampina Food & Beverage, Roel van Neerbos, explains: “FrieslandCampina's market position and profitability in Germany have been significantly improved in recent years through targeted measures. Nevertheless, we are convinced that we have found a suitable successor in the new owner, the Theo Müller Group, who can successfully further expand this business through synergy advantages. In Germany, one of our home markets, FrieslandCampina will continue to focus on selling its strong international brands.”

Stefan Müller, Chairman of the Supervisory Board of the Theo Müller Group, says: "We are convinced that this acquisition is a very suitable addition to our successful Mopro portfolio on the German market and will make a positive contribution to the growth of the Theo Müller Group."

The transaction is subject to customary conditions, including the approval of the FrieslandCampina UA Members' Council, the FrieslandCampina Germany Supervisory Board and the German Federal Cartel Office. The Members Council will make a decision on June 20, 2022. The transaction is expected to be completed by the end of 2022 at the latest. No statements are made on the financial aspects of the transaction.

www.frieslandcampina.com

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