The buyout is set to be concluded by the end of this month. Credit: Müller UK & Ireland.

The UK Competition and Markets Authority (CMA) has approved Müller’s acquisition of Yew Tree Dairy, a Lancashire-based family-owned dairy company.

Dairy giant Müller first announced the deal in June.

Yew Tree Dairy primarily focuses on the sale of milk powders, bulk cream and raw liquid milk in the UK and Europe.

In August, the CMA launched a merger inquiry to determine if the acquisition would significantly reduce competition in relevant markets.

The competition watchdog announced yesterday (22 October) its investigation is now closed and a full report detailing its decision will be published shortly.

With the CMA’s approval now secured, the acquisition is set to be completed by the end of this month.

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Müller aims to use Yew Tree’s capabilities to expand its export business.

Müller Milk & Ingredients (MMI) CEO Rob Hutchison said: “This acquisition will drive significant progress towards MMI’s purpose to deliver a better dairy future.

“The British dairy industry is world-renowned for its approach to sustainability, quality and welfare and so, not only does this acquisition underline our ambition to grow our business, but also a commitment to ensuring our customers, farmers and consumers will all feel the benefit.”

Yew Tree Dairy director Carl Woodcock added: “As a family-owned and operated company, we’re very proud of the progress we’ve made and the organisation we have built over the last few decades.

“Joining Müller will help Yew Tree Dairy go from strength to strength, benefitting our staff, farmers and customers and creating a strong and successful future for the British dairy industry.”