Arla Foods Ingredients and Volac Joint Statement on Acquisition Decision
- Written by Media Outreach
TAIPEI, TAIWAN -
Media OutReach Newswire - 7 November 2024 - The UK's Competition and Markets Authority has approved
Arla Foods Ingredients' acquisition of
Volac's Whey Nutrition business. The regulator's go-ahead follows an evaluation that took place after the two companies signed an acquisition agreement on April 18th 2024.
Arla Foods Ingredients
Commenting on the announcement, Luis Cubel, Group Vice President and Managing Director of Arla Foods Ingredients, said: "This is a very welcome decision at a time when demand for high-quality whey ingredients is growing. It means we're a step closer to a significant acquisition that would consolidate our position as a leader in the whey nutrition space. We will now move forward with the formal process necessary to make Volac's Whey Nutrition business part of Arla Foods Ingredients. Once that is complete, we will be able to comment further on the many advantages of bringing together these two major manufacturers of whey ingredients – not just for both companies, but also for our customers and the industry as a whole."Commenting on behalf of the Neville family, James Neville, joint owner of Volac, said: "We were always confident that Arla Foods Ingredients had the necessary expertise and values to take our Whey Nutrition business to the next level, and we are delighted to have reached this important step in the acquisition process. It's great news for Volac Whey Nutrition, and for the whey ingredients sector, that these two innovative companies have been allowed to join forces.
Hashtag: #ArlaFoodsIngredients
The issuer is solely responsible for the content of this announcement.
