Muller's merger with Dairy Crest to be completed in December
Muller's £80 million move for Dairy Crest's dairy operations will be completed in December after the UK's competition authorities cleared the way for the merger.
The deal was held up by concerns from the Competition and Markets Authority over the effect of the deal, and it had faced the prospect of a lengthy Phase II investigation.
Now, however, the CMA has accepted proposals from the Market Drayton-based dairy giant to process 100 million litres of milk a year for Medina Dairy in the south west, allaying concerns over a lack of competition.
It means the deal will be completed on December 26, and Dairy Crest is now set to finalise its consultation with employees.
Dairy Crest chief executive Mark Allen said: "We are delighted that the sale is now confirmed and will complete this year.
"This is a transformational moment for Dairy Crest and the wider dairy industry. The deal will help to create a more sustainable UK dairy sector.
"It will deliver economies of scale and cost efficiencies that will underpin investment in the sector and help the UK to compete more successfully in global markets."
