The Irish Dairy Board Co-operative Society Limited has sold the European food convenience group Nikita to Bieze Food Groep for an undisclosed consideration.
Nikita is a large producer of mayonnaise-based salads and sandwich spreads in Belgium.
Bieze Food Groep, a subsidiary of the German food company Wernsing Fienkost, focuses on producing salads and sauces for European retail and food service markets.
The Irish Dairy Board is a major international exporter of Irish dairy products. The Board is a commercial co-operative, tasked to market and export the Irish dairy products produced by its member manufacturing co-operatives and dairy companies and thereby generate the maximum return for the primary producers. The development is consistent with The Irish Dairy Board's stated objective of focusing investment on key growth areas and divesting non-core assets.
Oaklins' team in Ireland advised The Irish Dairy Board Co-operative Society Limited in this transaction.
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