News
Arla buys back AFISA shares
19 Feb 2018Arla Foods Ingredients has agreed to acquire the shares in Arla Foods Ingredients S.A (AFISA) currently owned by SanCor to support the company’s ambition for market growth in South America.
Arla Foods Ingredients has agreed to acquire the shares in Arla Foods Ingredients S.A (AFISA) currently owned by SanCor to support the company’s ambition for market growth in South America.
The members of the Argentinian dairy cooperative SanCor have agreed to sell their 50% stake in AFISA as part of their plan to restructure SanCor.“Arla Foods Ingredients greatly appreciates the collaboration with SanCor for the last 17 years. SanCor and Arla Foods Ingredients have agreed amicably that it is now time to move forward with our businesses separately. For Arla Foods Ingredients this is a unique opportunity for continued strategic growth in our whey business in general and specifically in South America; and AFISA will become a significant element in Arla Foods Ingredients’ global supply chain,” said Henrik Andersen, Senior Vice President at Arla Foods Ingredients.AFISA was founded in 2001 and has until now been jointly owned by Arla Foods Ingredients and the Argentinian dairy cooperative SanCor. At its site in the Argentinian province of Cordoba, AFISA processes approximately 900 million kilos of whey every year, which is said to make it the largest whey processor in Argentina and the South American trade bloc, Mercosur.Further terms and conditions of the transaction were not disclosed.