FrieslandCampina and Milcobel publish merger proposal – key step towards decision-making

FrieslandCampina and Milcobel today publish the final merger proposal, following the intention to merge announced in December 2024. With this step, both dairy cooperatives mark an important milestone on the path towards the planned merger.

The proposal elaborates on the earlier announcement and provides additional information regarding the legal, financial, and operational aspects of the merger. The merger is intended to create a future-proof organisation that ensures solid earnings for member dairy farmers and their successors, an attractive working place for employees, and high-quality products for customers and consumers. By combining forces, FrieslandCampina and Milcobel will increase their scale and capacity to invest in productivity, innovation, and sustainability. This will increase their resilience in a dynamic market.

Sybren Attema, Chair of the Board of Zuivelcoöperatie FrieslandCampina U.A., said: ​
​“The scale of the new enterprise will safeguard market strength. At the same time, members will retain their control and ownership within the cooperative. The strategy remains focused on maximising the value of all member milk, enabling us to continue paying a leading milk price. In doing so, we provide our member dairy farmers with sustainable and stable income — now and in the future.”

Betty Eeckhaut, Chair of the Board of Milcobel, added: ​
​“This step has been taken with the future of our member dairy farmers and employees in mind. The merger with FrieslandCampina strengthens our position and provides greater security in a highly competitive dairy environment. In addition, it creates growth opportunities for the company in a context that is becoming increasingly demanding due to market developments, societal expectations, regulation and sustainability challenges. At the same time, we remain true to the cooperative principles: strong together, while preserving ownership, control and solidarity among members.”

Member consultation and decision-making
​In the coming months, the merger proposal will be discussed with the members of both cooperatives. At FrieslandCampina, this will take place during the autumn member meetings and district councils in October and November. Milcobel organises open Members’ Circle board meetings in September and October, in conjunction with the discussion by the Cooperative Council. Final decision-making will take place on 16 December 2025 during the FrieslandCampina Members’ Council and the Extraordinary General Meeting of Milcobel. Approval requires a two-thirds majority at FrieslandCampina and a three-quarters majority at Milcobel.

Subject to approval competition authorities
​The implementation of the merger is subject to approval by the relevant competition authorities. FrieslandCampina and Milcobel will work closely with the relevant bodies to ensure the process is conducted carefully and transparently.

About FrieslandCampina
​Collaboration has been the strength of Zuivelcoöperatie FrieslandCampina U.A. for over 150 years, a cooperative of 14,183 dairy farmers (9,001 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 2024, the company processed 9 billion kilograms of member milk and achieved revenue of 12.9 billion euros. FrieslandCampina has operations in 30 countries and employed over 19,500 people worldwide at the end of 2024. 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. In 2024, Milcobel achieved revenue of 1.3 billion euros. The cooperative counted 1,500 member dairy farmers in 2024 and processed about 1.2 billion kilograms of milk. A team of 950 employees produces high-quality dairy products such as cheese, butter, milk powder, 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. Milcobel is a locally rooted company with a global market presence, serving customers in approximately 80 countries. For more information, visit www.milcobel.com.

For more information: