Dutch investment company Standard Investment and Dutch dairy cooperative FrieslandCampina have reached agreement on the takeover of FrieslandCampina Riedel B.V., producer of, among others, Appelsientje, CoolBest, DubbelFrisss, DubbelDrank, Taksi and Extran. The transaction is expected to be completed before the end of the year.
Earlier this year, FrieslandCampina announced that it would sell Riedel because the company wants to fully concentrate on its dairy portfolio. Roel van Neerbos, a member of the Executive Board of Royal FrieslandCampina: “We were looking for a buyer that will be able to take Riedel to a next phase. With its broad knowledge and experience, Standard Investment came out best here. I am convinced that the new owners will make optimum use of the market opportunities of Riedel as an independent company.”
According to Rob van Dongen, spokesman for FrieslandCampina, the closing of the agreement is expected in October/November this year.
Dongen said: “We need the time to separate, which can take a longer period and even into 2018. We are always looking for acquisitions in dairy,” he continues, “That is always the case and will not change.”
To Standard Investment, which also has interests in, among others, Burger King Netherlands and pre-baked bread producer Dutch Bakery, the takeover means an important expansion of its portfolio. Guido Grobbink, partner with Standard Investment: “Riedel has developed itself to become the market leader in ambient and chilled juices and fruit drinks in the Netherlands since the nineteen seventies.”
“Consumers give Appelsientje, CoolBest, DubbelFrisss and DubbelDrank places in the top 10 of indispensable drink brands. However, we drink as a whole about 25 percent fewer fruit juices than we did 10 years ago and this has had an impact on Riedel.”
Grobbink sees a lot of opportunities for the company: “We want to put renewed emphasis on the inherent qualities of fresh and other fruit juices and the importance of these for a well-balanced lifestyle. This is quite a challenge, but we have a lot of confidence in the employees and the management. I am looking forward to expanding the entrepreneurship in Riedel and to give the wonderful brands of this company the attention they deserve,” he notes.
The intended transaction is dependent on a number of conditions, including the approval from the Authority for Consumers & Markets and the completion of the works council consultation. The financial details have not yet been published.
Earlier this week we reported that Royal FrieslandCampina N.V. was intending to simplify the organization into four global business groups: Consumer Dairy, Specialised Nutrition, Ingredients and Basic Dairy.
