Erhvervsinvest receives green light to acquire Them Cooperative Dairy
Økologisk NuThe shareholders in the Jutland cooperative society have now gained clarity on who will own the dairy that receives and processes their milk in the future. This is a reality after the Competition and Consumer Authority initially rejected a planned merger with Arla Foods. Now, the authority has approved the private equity fund Erhvervsinvest to take over the dairy. This occurs through a newly established company – Them Mejeri A/S, which came into being when it became clear in April that the ambition for Them Cooperative Dairy to be incorporated into Arla Foods would not receive regulatory approval. This prompted the shareholders of Them to look for other buyers. The choice fell on Erhvervsinvest, and in connection with the announcement of the fund as the future owner, dairy chairman Gert Glob Lassen from Ellinglund Organic stated a month ago: “We, the shareholders, are very proud that Them Dairy will continue its journey under new ownership. It is gratifying that, with this agreement, we will also continue to supply raw milk to Them in the future. This maintains the local roots as well as our and the dairy’s focus on producing high-quality milk and cheese. We look forward to the future cooperation and to following the development of Them Dairy.” Operations continue unchanged In connection with the transaction, the new owner stated that all 12 shareholders will continue to supply raw milk for cheese production at Them without change. “Them is a well-renowned Danish dairy company with an admirable history, a strong brand, and solid supplier and customer relationships with both Danish retail and foodservice. We look forward to further developing the company in close partnership with management and the dedicated employees of Them,” said Thomas Marstrand, managing partner at Erhvervsinvest. Erhvervsinvest V K/S is a Danish private equity fund focused on investments in small and medium-sized enterprises. According to the Danish Dairy Industry Association, Erhvervsinvest’s portfolio companies include several other dairy-related businesses, such as Delika Food Group A/S, which is involved in cheese sales, and Fayrefield Ingredients Holding A/S, which produces milk-based ingredients.
Shareholders in the cooperative society in Jutland have now gained clarity on who will own the dairy that receives and processes their milk in the future. This is a reality after the Competition and Consumer Authority initially rejected a planned merger with Arla Foods. Now, the authority has approved the private equity fund Erhvervsinvest to acquire the dairy.
This happens through a newly established company – Them Mejeri A/S, which came into being when it became clear in April that the ambition for Them Cooperative Dairy to be incorporated into Arla Foods would not receive regulatory approval.
This prompted the shareholders of Them to look for other buyers. The choice fell on Erhvervsinvest, and in connection with the announcement of the fund as the future owner, dairy chairman Gert Glob Lassen from Ellinglund Organic stated a month ago:
“We shareholders are very proud that Them Dairy continues its journey under new ownership. It is gratifying that, with this agreement, we will also in the future supply raw milk to Them. This way, the local roots are maintained along with our and the dairy’s focus on producing high-quality milk and cheese. We look forward to the future collaboration and to following the development of Them Dairy.”
Operations continue unchanged
In connection with the transaction, the new owner stated that all 12 shareholders will continue to supply raw milk for cheese production at Them without change.
“Them is a well-renowned Danish dairy company with an admirable history, a strong brand, and solid supplier and customer relationships with both Danish retail and foodservice. We look forward to further developing the company in close partnership with management and the dedicated employees of Them,” said Thomas Marstrand, managing partner at Erhvervsinvest.
Erhvervsinvest V K/S is a Danish private equity fund focused on investments in small and medium-sized enterprises.
According to the Danish Dairy Industry Association, Erhvervsinvest’s portfolio companies include several other dairy-related businesses such as Delika Food Group A/S, which is involved in the sale of cheese, as well as Fayrefield Ingredients Holding A/S, which produces milk-based ingredients among other products.