By acquiring the remaining 40% of shares in the IKAM Richart Holding GmbH, the DMK Deutsches Milchkontor GmbH becomes the sole shareholder of the Russian cheese manufacturer RichArt Group, which is based in the Voronezh region.
DMK had already acquired a majority holding in RichArt in the second half of 2016. The DMK supervisory board agreed to the purchase of the remaining shares with immediate effect.
Ingo Müller, CEO of the DMK Group, said, “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%.”
RichArt Group witnessed a substantial increase in its sales volume in 2017. It is focusing in 2018 on expanding its branded products business, since a large share of the revenue is generated in this segment. Developments for further profitable product segments are also in preparation to expand the business further in innovative segments.
The DMK Group has around 7,000 employees and processes milk at 16 sites throughout Germany and two sites in the Netherlands.
A further six sites are available for the manufacture of baby food, ice cream and health products. There is also an administrative facility in Bremen. Its brands include MILRAM, Osterland, Oldenburger, Rose, Dutch Original Cheese, Humana, Casarelli, intact, sanotact, hansal and NORMI.
With a turnover of €5.8bn ($6.85bn), the company is one of the key players in the European dairy industry.