NETHERLANDS – Dutch dairy multinational, FrieslandCampina has reached an agreement to sell its cream liqueur manufacturer Creamy Creation to Dutch investment company Wagram Equity Partners (Wagram).
The transaction whose details were not disclosed includes the production of cream liqueurs in Rijkevoort and sales office in Paramus (the United States of America).
The company said the divestment allows it to focus on nutritional and functional solutions as it looks to grow its ingredients business.
Once the transaction closes, Wagram will resume the production of canned cream for FrieslandCampina in Rijkevoort.
Founded in 1979, Creamy Creation makes cream liqueurs, nutritional beverages, and emulsified beverages for alcoholic, performance and lifestyle drinks and iced coffee markets.
The company which has 84 employees will continue to develop and sell distinguishing cream liqueurs.
The deal is expected to close in the last quarter of this year, subject to regulatory approvals.
“Wagram Equity Partners is an independent investment company with a long-term perspective.
“Its business is making investments in private companies through controlling ownership positions. Wagram will focus on long-term growth of Creamy Creation,” noted the company in a statement.
FrieslandCampina recently completed the acquisition of US cheese producer Best Cheese, strengthening its position in the American consumer market.
This was part of the company’s ‘transformative strategy’ with a continued focus on delivering the best product to serve consumer’s needs.
It also acquired US cheese distributor Jana Foods and expanded its cheese activities by taking over the activities of Best Cheese Holland, including its brands Parrano and Tjiezi.
With the expansions, the company is capitalizing on the growing need for dairy snacks in, among others, Europe, Asia and North America.
It recently announced that it is set to build a sustainable and innovative dairy processing plant in the Netherlands focused on fresh dairy products, ingredients for early life and adult nutrition, as well as cheese production.
According to the company, the new facility will be built to address sustainability issues while featuring the latest technology innovations.