Friesland Foods and Campina Agree to Merger
Posted on: Friday, 9 May 2008, 15:00 CDT
The general meeting of member dairy farmers of Friesland Foods and the members' council of Campina has approved the proposal to merge the two dairy co-operatives and companies.
The merger agreement was reportedly signed by their respective boards of management and co-operative boards. The approval of the member dairy farmers is a major step forward in the merger process. It will be followed by an advice of the works councils of the two companies and a decision by the European Commission. The commission's response is expected in the final quarter of 2008.
The European Commission still has to make a pronouncement on the merger, and is expected to issue its response in the final quarter of 2008. Only then will the two companies and co-operatives be able to formally merge. Until then, Friesland Foods and Campina will continue to operate as wholly independent entities.
Sybren Attema, chairman of the supervisory board of Friesland Foods, said: "I am confident that we will create an excellent combination. That applies to the co-operative and the company alike. We must use our strong brands and innovative strength to deliver a good performance for our members."
Source: Datamonitor
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