Germany’s largest dairy cooperative, DMK Group is set to acquire the remaining 40% shares of Russia based IKAM Richart Holding GmbH which makes DMK the sole shareholder of the Russian cheese manufacturer RichArt Group . RichArt Group is based in the Voronezh region, Russia.
According to Ingo Müller, CEO of the DMK Group:
“In focusing our business and expanding further into defined international markets, we are aiming to significantly increase the DMK Group’s value creation on the home and international fronts. Because of the Russian RichArt Group’s positive growth, we are going to increase our stake to 100%.”
DMK had acquired a majority holding in RichArt in the second half of 2016 and the DMK supervisory board has agreed to purchase the remaining shares.
RichArt Group witnessed a substantial increase in sales in the year 2017 and is focusing on expanding the branded products business in 2018.
About the DMK GROUP
DMK is Germany’s largest dairy cooperative with around 7000 employees .DMK produces milk at 16 sites throughout Germany and two other sites in the Netherlands. Additionally six sites manufacture baby food, ice cream, and health products. DMK has turnover of 5.1 billion euros ($60.5 billion) and is a key player in the European dairy industry. Some of its brands include MILRAM, Osterland Oldenburger, Rose, Dutch Original Cheese, Humana, Casarelli, Intact, Sanotact, Hansal and NORMI.