Arla Foods Sells Nordic Juice Business to Eckes-Granini
Arla Foods has sold its juice subsidiary Rynkeby Foods to Germany-based Eckes-Granini Group, the leading producer of branded fruit-based beverages in Europe. Rynkeby is the largest manufacturer of juice and cordials in the Nordic region, selling more than 130 million litres of beverages for consumers primarily in Denmark, Sweden and Finland under the brands Rynkeby® and God Morgon®. The company was founded in 1934 but has been fully owned by Arla Foods since 1998.
Povl Krogsgaard, vice-chief executive of Arla Foods, comments: “Over the past two decades Arla has sold off subsidiaries that do not have a direct link to dairy production in order to focus on our core business. Rynkeby is the last remaining subsidiary in the Arla Group not linked to milk and we believe that the Rynkeby business will be better suited under the ownership of Eckes-Granini who can take the company to the next level in its future development.”
“The acquisition of Rynkeby Foods is another important milestone in dynamically pursuing the international growth strategy of the Eckes-Granini Group,” says Thomas Hinderer, chairman and chief executive of the Eckes-Granini Group. “The Rynkeby® and God Morgon® brands round out our portfolio ideally. We are now number one in eight European countries as we continue to pursue our successful course as the leading supplier of fruit beverages.”
As part of the agreement, the parties have agreed on a structure for the continuation of the current distribution set-up.
