Former Milk Link executives complete Arla Crediton Dairy buyout
TWO Former Milk Link executives have completed their management buyout of Crediton Dairy from Arla following approval from the European Commission.
Former Milk Link chief executive Neil Kennedy and former Milk Link group finance director Tim Smiddy led the buyout, which was secured in May.
The new business, Crediton Dairy, will produce milk products including Moo long life milk, flavoured milk drinks branded by Mars, as well as flavoured milk drinks from the 200 million litre dairy.
New managing director Tim Smiddy said: “Having obtained European Commission approval and completed the acquisition we can now progress our plans for the development of the business.
“We believe that Crediton has strong growth potential based upon its self-contained, well invested manufacturing facility; growing customer base; established range of products and brands; and skilled and committed workforce.”
He added the company wished to focus on producing products with strong British provenance.