Yoplait Dairy Crest buys Raines

By FWi staff

UK dairy giant Dairy Crest has announced that its joint venture company with Yoplait of France is to buy Raines Dairy Foods for £66.25 million.

Dairy Crest will contribute about £30m of the price paid by Yoplait Dairy Crest in a deal which will strengthen its share of the UK market in value-added milk products.

Raines supplies a broad range of own-label dairy products – such as yoghurts, cheeses and deserts – major UK supermarkets including Sainsbury, Safeway, and Marks & Spencer.

In the year to September 1997, Raines generated operating products of £7m on an annual turnover of £114m. The companys assets that time were £34.2m and it employs 1,060 employees across the south of England.

“Yoplaits high quality products and innovative skills are well matched by Raines ability in developing outstanding retailer brands for the fresh dairy products cabinet,” said John Houliston, Dairy Crests chief executive.