A corresponding contract was signed by both parties on September 30, 2021.
The DMK Group intends to reduce its former majority stakes in Fude + Serrahn Milchprodukte GmbH & Co. KG and Fude + Serrahn Milchprodukte Verwaltung-GmbH held by DMK Deutsches Milchkontor GmbH. Fude + Serrahn Vermögensverwaltungsgesellschaft mbH acquires around 41 percent of the previous shares (each around 51 percent), bringing its stake to around 90 percent. DMK Deutsches Milchkontor GmbH retains a stake of approximately 10 percent. A corresponding contract was signed by the two parties on September 30, 2021. The closing of the transaction, which is scheduled for the first quarter of 2022, is still subject to authorizations from the authorities.
Hamburg-based Fude + Serrahn has been operating as a multi-site dairy production and marketing company since 2001. DMK Deutsches Milchkontor GmbH previously held 51 percent of the shares – in the future DMK’s share will be reduced at about 10 percent.
The parties have agreed not to disclose the purchase price of the shares. The proposed reduction is also subject to any regulatory approval.
?? In the summer of 2019, we developed our strategic vision ?? DMK 2030 ?? and actively restructure our company in various areas in accordance with it? explains DMK CEO Ingo Müller. ?? The participation in Fude + Serrahn as a production and trading company has given good investment results in the past. However, as a dairy cooperative, we will focus in the future mainly on our core business in order to best position our different business units for the future. This will put us even more able to unleash the potential of DMK and grow in these areas. Muller said.
As a result, the company has already made a number of changes: for example, the baby food business area was completed with the construction of the new baby food factory in Strückhausen and the acquisition of the Alete brand; in the field of whey processing, the DMK group has become one of the world’s largest suppliers of whey derivatives with the full takeover of DVN; the cheese business was extended by the traditional Dutch brand Uniekaas; the ice cream business has been optimized in terms of locations; and the dextrose (Sanotact) activity was discontinued.
Andreas Serrahn, Managing Director of Fude + Serrahn Milchprodukte GmbH & Co KG: We are pleased that the DMK Group retains a 10 percent minority stake and thus also appreciates the successful cooperation of the past. We see this change as a great opportunity for our business and also believe that we are perfectly positioned for the future.
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