Robert Wiseman Dairies has accepted an offer of £279.5m from German dairy group Muller.
The South Lanarkshire company produces almost a third of the UK’s fresh milk at six major dairies in Aberdeen, Glasgow, Manchester, Droitwich Spa in Worcestershire, Bridgwater in Somerset, and at its East Kilbride headquarters.
It said yesterday it had reached an irrevocable agreement to sell the company. Müller is a Bavaria-based company with annual turnover of c.€2.2bn (2010). Wiseman shares closed 18% up at 387p after details of Muller’s 390p-per-share offer emerged.
NFU dairy board Chairman Mansel Raymond said: “The UK dairy industry is entering into an exciting phase in its evolution with farmers now looking to make investment decisions.
“It is important that the processors and the supply chain now work to grow together as farmers will be looking to build long-term, trusted relationships which includes fair pricing and transparent terms and conditions.
“We will be looking to Muller and to Wiseman Dairies to build on these foundations in whatever comes out of the current takeover bid.”
Müller chief executive officer, Heiner Kamps, said: “This is an exciting strategic move by Müller to enter a new market segment in the UK. The combination of these complementary businesses will form a leading dairy player offering a range of exceptional products to our customers across the UK.
“This will create significant opportunities which will benefit suppliers, customers, consumers and employees. We look forward to working with the experienced Wiseman team and combining our complementary skills and extensive experience in the dairy industry.”
No comments have been made.