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FrieslandCampina completes sale of Riedel to Standard Investment

DBR Staff Writer Published 15 November 2017

Dutch dairy cooperative FrieslandCampina has completed sale of fresh fruit juice and other fruit juices company Riedel to Standard Investment.

The divestiture was carried out as FrieslandCampina wanted to focus on its dairy portfolio. In this regard, it had entered into a definitive agreement with Standard Investment in mid-August to sell all the shares and operations of Riedel.

Financial terms of the transaction remained undisclosed.

Based in Ede in the Netherlands, Riedel sells its fruit juices under brands such as Appelsientje, DubbelFrisss, CoolBest, DubbelDrank, Taksi and Extran. It has a workforce of 200 employees.

Riedel, which earned revenue of €125m in 2016, will continue to remain as an independent entity even after the transfer of its ownership to Standard Investment. The company has its own production and packaging facilities.

FrieslandCampina had been the owner of Riedel for nearly 47 years before its sale.

The dairy company stated that the investment company will support Riedel with knowledge and network wherever possible.

Based in Amsterdam, Standard Investment focuses on investing in Dutch and Belgium small and medium-sized businesses. Its investments in the food industry have come in the form of Dutch Bakery and Burger King Netherlands.

With the addition of Riedel to its portfolio, Standard Investment is expected to follow up the acquisition of drinks company Beyond Brands, which is heading towards regulatory approval.

Riedel’s sale was announced soon after FrieslandCampina had revealed its intentions to simplify its organizational structure to further boost the company operationally and commercially, to create more value for its member dairy farmers.

FrieslandCampina would split its organization into four global business groups: Consumer Dairy, Basic Dairy, Specialized Nutrition and Ingredients. The new organizational structure is to come into effect from 1 January, 2018.

Image: Riedel’s portfolio of fruit juice brands. Photo: courtesy of FrieslandCampina.