FrieslandCampina and Milcobel announce intention to merge

The merger of FrieslandCampina and Milcobel will create one international, future-oriented organisation that can seize opportunities and address challenges more effectively in the global dairy market. Both merger partners, owned by dairy farmers for many generations, complement each other well in market positions and product portfolios. The merger offers further business development opportunities in market segments such as consumer cheese, mozzarella, white dairy products (such as milk, buttermilk, and yoghurt), and ingredients, as well as benefits in efficiency and expertise, for example in the area of sustainability.

Sybren Attema, Chair of the Board of Zuivelcöoperatie FrieslandCampina U.A.: ​
​“The combination of FrieslandCampina and Milcobel is bigger than the sum of its parts. It creates a future-oriented, combined dairy cooperative that is resilient and capable of capitalising on opportunities in the dynamic global dairy market. This strengthens our appeal to member dairy farmers, business partners and employees. Moreover, this step supports us in realising a leading milk price for our member dairy farmers, now and in the future.”

Betty Eeckhaut, Chair of the Board of Milcobel:
​“The cooperative philosophy, which is deeply rooted at both Milcobel and FrieslandCampina, is the bedrock for this proposed merger. Our goal remains to create added value for our member dairy farmers. Through our regional complementarity we will become the cooperative dairy partner of choice for current and new members, with a solid milk supply for a successful future. For employees, the new organisation provides great opportunities to grow in an international environment. For customers, this merger means more innovation, an expanded product portfolio and further professionalisation of our services.”

Based on the combined 2023 annual figures of FrieslandCampina and Milcobel - excluding Milcobel's Ysco business, which is in the process of being divested - the new, combined organisation has a pro forma revenue of more than 14 billion euros, operates in 30 countries, employs nearly 22,000 staff worldwide, and processes a total volume of approximately 10 billion kilograms of member milk. This milk is supplied by nearly 11,000 member dairy farms owned by approximately 16,000 member dairy farmers in the Netherlands, Belgium, Germany, and Northern France.

Process
​The boards of the cooperatives and executive management of the two parties have signed a framework agreement regarding the proposed merger. The aim is to finalise a detailed merger proposal in the first half of 2025, which will then be discussed with the members of FrieslandCampina and the shareholders of Milcobel. Subsequently, the merger agreement will be submitted for approval to Milcobel’s Extraordinary Meeting of Shareholders and FrieslandCampina’s Members’ Council. The merger also requires approval from antitrust authorities.

About FrieslandCampina
​Collaboration has been the strength of Zuivelcöoperatie FrieslandCampina U.A. for over 150 years, a cooperative of 14,634 dairy farmers (9,417 dairy farms) in the Netherlands, Germany, and Belgium. Collectively, the member dairy farmers are owners of Royal FrieslandCampina N.V. through the cooperative, supplying the milk that is processed by the company into nutritious dairy products. These products are sold under its own brand names or as private labels to consumers and professional customers worldwide. The company aims to maximise the value of the members' milk, generating income for the members to invest in the sustainable future of their dairy farms. In 2023, the company processed 9.4 billion kilograms of member milk and achieved revenue of 13.1 billion euros. FrieslandCampina has operations in 29 countries and employed 20,928 people worldwide at the end of 2023. For more information: www.frieslandcampina.com.

About Milcobel
​Milcobel is a leading, Belgian dairy company with cooperative ownership. The Milcobel Group has six facilities in Belgium and one in northern France. In 2023, Milcobel achieved revenue of 1.3 billion euros. The cooperative had 1,550 member dairy farms in 2023 and processed about 1.3 billion kilograms of milk. A team of 1,600 employees produces high-quality dairy products such as cheese, butter, milk powder, ice cream, milk drinks, cream and whey. In addition to its own brands and private label cheese for major supermarket chains, Milcobel manufactures raw materials and ingredients for the food industry (e.g. mozzarella, grated cheese, butter, cream). Milcobel is a locally rooted company with a global market presence, serving customers in approximately 80 countries. For more information, visit www.milcobel.com.

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