Drinks industry news : Standard Investment, a Dutch investment company has acquired Riedel, a fresh fruit and other fruit juices company from dairy cooperative FrieslandCampina for an undisclosed price.
Netherlands-based dairy giant FrieslandCampina had owned the fruit juice company Riedel for close to 47 years.
Established in Ede in the Netherlands, Riedel is into production and sales of fresh fruit juices and other fruit juices. Brands of the Dutch fruit juice company include Appelsientje, DubbelFrisss, CoolBest, Extran, DubbelDrank and Taksi.
Riedel was put for sale by FrieslandCampina, earlier this year, as the Dutch dairy company wanted to fully focus on its dairy business.
The Dutch fruit juice company recorded revenue of around €125 million. Riedel employs 200 people.
For Standard Investment which agreed to acquire Riedel from FrieslandCampina in mid-August, the addition of the Dutch fruit juice producer means a major expansion of its portfolio.
Riedel will operate an independent entity within Standard Investment just like other portfolio companies of the Dutch investment company.
The fruit juice company will be helped with the expertise and network of Standard Investments wherever possible.
Recently, the Dutch investment firm had acquired drinks company Beyond Brands, for an undisclosed price, to bolster its presence in the fruit juices and fruit drinks business.
FrieslandCampina’s sale of Riedel followed the announcement from the Dutch dairy company of simplifying the structure of its organization, in a move to further strengthen the company both operationally and commercially, to deliver more value for its member dairy farmers.
FrieslandCampina is set to divide its organization into four global business groups which would be Consumer Dairy, Specialized Nutrition, Basic Dairy and Ingredients. The new organizational structure of the Dutch dairy producer will come into effect from the start of 2018.
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