Sale of Dairy Crest’s Dairies Operations on Track to Complete in 2015
The UK Competition and Markets Authority (CMA) has indicated that it proposes to accept the undertakings from Muller UK & Ireland Group with regard to its agreed £80 million acquisition of Dairy Crest’s Dairies operations and has invited comments from third parties. The sale has already received the approval of Dairy Crest shareholders.
The CMA has also announced an extension of its deadline for consideration of the undertakings by the statutory 40 days from 21 August to 19 October although it has also said that it may reach a final decision before that date.
Dairy Crest continues to anticipate that the sale will complete before the end of 2015 should the CMA accept the undertakings.
Mark Allen, chief executive of Dairy Crest, comments: “We have always believed the sale of our Dairies operations is good news for the whole UK dairy sector which is currently facing significant challenges arising from low dairy commodity returns. It will deliver economies of scale and cost efficiencies that will underpin investment and help the UK compete more successfully in global markets.”
