Robert Wiseman Dairies to acquire fresh liquid milk business of Scottish Milk Dairies
The total cost of the acquisition will be circa £0.9 million and is subject to an assessment of the volume of milk transferring.
15/08/05 Robert Wiseman Dairies PLC announces that it has agreed terms for the acquisition of the trade and certain assets of the fresh liquid milk business of Scottish Milk Dairies Limited ("SMD"), a wholly owned subsidiary of First Milk Limited.
The total cost of the acquisition will be circa £0.9 million and is subject to an assessment of the volume of milk transferring. The consideration will be satisfied in cash. It is expected that the acquisition will complete in early September.
SMD currently supply around 10 million litres per annum, approximately 2% of the fresh liquid milk in Scotland, from their dairy and depot in Hamilton, near Glasgow. In the last financial year, which ended 31 March 2005, the turnover of the fresh liquid milk business of SMD amounted to £4.6 million.
Wiseman currently supplies around 1.3 billion litres and has 22% of the market in Great Britain and views this as a strategic acquisition that will benefit the business along with existing and future customers.
http://www.wiseman-dairies.co.uk/pdf/press/acquistion_fresh_liquid.pdf
