VBB advises FrieslandCampina on cross-border merger with Milcobel
- 02/01/2025
- News
An M&A team comprising partner Michel Bonne, counsel Hannelore Matthys and associate Seppe Jansegers is advising international dairy company FrieslandCampina in relation to its proposed merger with dairy cooperative Milcobel. The merger will create a leading dairy cooperative and dairy company able to capitalise on opportunities in the global dairy market.
The boards of directors of FrieslandCampina and Milcobel, respectively, signed a framework merger agreement, with the aim of finalising a detailed cross-border merger proposal in the first half of 2025. This will then be discussed with and voted on by key stakeholders of both parties. The envisaged merger is subject to a number of conditions, including antitrust approval.
On the basis of 2023 data and excluding a Milcobel business currently being divested, the combined entity will operate in 30 countries, employ nearly 22,000 staff and have pro forma revenue of over EUR 14 billion. It will process a total volume of around 10 billion kilogrammes of member milk, supplied by nearly 11,000 member dairy farms owned by approximately 16,000 member dairy farmers in the Netherlands, Belgium, Germany, and Northern France.
