Mergers & Acquisitions in December 2015
One of the highlights of the month was Muller UK & Ireland Group LLP’s acquisition of Dairy Crest Group Plc’s dairy operations assets for £80m.
The acquisition will see Dairy Crest sell its dairies operations, including bulk butter manufacture, in its entirety and with its supporting overhead structure to Muller. The combination of Dairy Crest’s dairy operations with those of Muller will help to create a more sustainable UK dairy sector by delivering economies of scale and cost efficiencies that will underpin investment in the industry.
The two companies will also enter into a supply agreement whereby Muller Wiseman Dairies will sell bulk butter to Dairy Crest for five years. In addition Dairy Crest will provide certain transitional services to Muller.
The acquisition will see Muller Wiseman Dairies and Dairy Crest’s dairy operations merge together to create a new organisation called Muller Milk & Ingredients.
Other notable deals for December included the completion of previously reported deal between Caledonia Investments Plc and Gala Bingo Holdings Ltd for £241m. December also saw the £881.5m acquisition by Motorola solutions Inc. of Airwave Solutions Ltd, a communications provider for emergency services and public safety agencies, with coverage of over 99% of the UK’s landmass includes remote areas.