Norwegian company Tine has divested its 11% stake in organic dairy producer Rørosmeieriet AS to investment firm Salvesen & Thams.
Tine is a producer, distributor and exporter of dairy products, including Jarlsberg cheese. The company is run as a cooperative with 11,400 member-owners and 9,000 farms.
Commenting on the sale of its Rørosmeieriet share, Tine CEO Gunnar Hovland said: “The Røros dairy has a great history and good people. We at Tine are impressed with what they have achieved and are happy that we could play a role in helping them in the start-up phase. Now a new chapter is starting and it was natural for us to sell our share.”
Tine says the Røros dairy has become a more competitive player in recent years and needs greater investment and more energetic ownership to continue its growth.
“We certainly do not want to be a brake on the further development of Rørosmeieriet and have had a good dialogue about a possible sale, while at the same time we have been concerned with conditions that reflect the value of our ownership, which we have now achieved,” Hovland added.
Trond Vilhelm Lund, who has led Rørosmeieriet for the past 12 years, said: “We are looking forward to a new chapter in Rørosmeieriet’s history. This is a solution that gives us many opportunities in the future, for the company, employees, eco farmers and the food industry in the Røros area.
“This will strengthen us and provide a basis for us to take new, major steps forward. Tine has been important for the Røros dairy start-up phase, and we look forward to continued good cooperation with them around important areas such as more conversion to eco, and optimal use of eco milk in Norway.”
Last year, Tine agreed a three-year deal with RPC Group for the UK company to supply it with a range of packaging, such as containers, pots and bottles.
© FoodBev Media Ltd 2020
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