EGYPT – European dairy giant Arla has made moves to acquire a stake in an Egyptian dairy processor and secure a foothold in Egypt’s growing market.
A non-binding bid has been made for Arab Dairy, Arla announced yesterday.
Selling 43,000 tonnes of dairy products last year, with revenues of 508 million Danish krone, the bid would put Arla in the top five or six dairy players.
Despite the bid being ‘non-binding’, it has become official because of Arab Dairy’s listing on the Egyptian Exchange, explained a spokesperson.
The spokesperson added: “We are now looking at the details before deciding whether or not to actually purchase a share of the business.”
Arla expressed interest in the company’s ‘strong position’ in retail and food service lines, which ties in with Arla’s focus in these sectors.
TheCattleSite News Desk