Ireland-based Lakeland Dairies has announced the acquisition of British frozen yogurt maker Taste Trends, as it seeks to enhance its presence in the UK.
Under the brand name Coolicious, Taste Trends manufactures a range of frozen yogurt, smoothies and sorbets. Its acquisition will bring Lakeland Group’s yearly ice cream and frozen yogurt revenues up to approximately €30m, just over 5% of the company’s total turnover in the previous financial year.
Michael Hanley, Lakeland Group’s chief executive, said: “Frozen yogurts are natural and wholesome products and they are proving immensely popular with consumers. We will also continue to examine the potential for further acquisitions where this would complement our business, enhance market reach and add value for our milk producers.”
Lakeland’s expansion is underlined by a gradual expansion of its product line: in 2010, we reported that it had released a brand of flavoured milk drinks, while last year it introduced the new Milk Stick designed to replace bulkier milk pods.
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