Swedish dairy co-operative Skånemejerier said today (11 January) it expects its sale to French dairy giant Lactalis to go through at the start of March.
Skånemejerier provided the update after its a majority of its council members voted to change the statutes governing the company – a condition of the deal with Lactalis.
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The co-op’s members voted to back a measure that would see Skånemejerier only supply Lactalis with milk once the deal was signed.
Lactalis is looking to buy 100% of Skånemejerier, a spokesperson for the co-operative confirmed, although he declined to comment on reports in France that the the company will be offloaded for EUR113m (US$143.2m).
Skånemejerier sells products including milk under its namesake brand, Allerum cheese and Bravo fruit juices.
In 2010, Skånemejerier reported net profit of SEK300.2m (US$43.2m), up sharply from SEK26.9m a year earlier. The jump in earnings was due to the proceeds of the sale of a majority stake in juice business ProViva to Danone. Skånemejerier reported an operating loss of SEK52.1m as costs increased. Sales rose 10.8% to SEK3.31bn.
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