British dairy firms Medina Dairy and Freshways Dairy have announced a merger agreement to create a more sustainable and progressive dairy business.
According to sources, the merged business called Medina Freshways Ltd is believed to have the “requisite scale and agility to compete with the two large players which dominate the dairy sector in the UK”.
Medina Dairy supplies milk, dairy, and bakery products, whilst Freshways Dairy claims to be the UK’s largest independent processing dairy, producing milk, cream, cheese, butter, and yoghurt.
The merger will employ 1000 people and process approximately 500 million litres of milk, with a combined turnover of £400million ($546 million), reportedly.
The new company will be managed by Sheazad Hussain (current Medina Dairy CEO) and Bali Nijar (managing director of the Freshways group) as joint managing directors.
The deal, subject to regulatory approval, is expected to be finalised by the end of 2021.