Dec. 17 - Today, the ingredients company Chr. Hansen and Arla Foods have signed a conditional agreement concerning Chr. Hansen's acquisition of Arla Foods' Swedish subsidiary, Medipharm. The deal is expected to take effect in January 2008.
Medipharm specialises in probiotic bacteria cultures for the agricultural and food industries and operates subsidiaries in Sweden, USA, the Czech Republic and Hungary. The workforce totals approx. 100 employees (of whom 30 in Sweden). Annual sales are approx. SEK 130 million.
The Medipharm acquisition will strengthen Chr. Hansen's activities within probiotic cultures - a field in which Chr. Hansen is a market leader.
"We are delighted to have made this agreement. Cultures are extremely important to us and an area where, over the past few years, we have seen very strong growth. We regard the Medipharm acquisition as a natural step in further accelerating growth within the culture area," says Lars Frederiksen, CEO, Chr. Hansen.
Arla Foods welcomes the agreement, which is in keeping with the Group's strategy of disposing of its non-core businesses. Over the past year, Arla Foods has sold the pasta company, Pastella A/S, the muesli-manufacturer Crispy Food and the import business Delimo A/S.
"Over the past few years, Arla Foods has increased its focus on our core activities and the sale of Medipharm is a natural step in this process. We're pleased to be selling to a specialist company like Chr. Hansen, who we're sure will offer the best opportunities for Medipharm's growth and development," says Arla Foods' CEO Peder Tuborgh.
Chr. Hansen's acquisition of Medipharm is expected to be completed in January 2008. The purchase price has not been disclosed.