a2 Milk Company rejects Dean Foods, Freedom Foods takeover bid


- Last updated on GMT

a2 Milk Company rejects Dean Foods, Freedom Foods takeover bid

Related tags Milk

The a2 Milk Company (a2MC) has rejected a joint takeover bid by Australian firm Freedom Foods and US dairy giant Dean Foods.

In a statement issued earlier today, a2MC said it will not recommend the proposed deal to shareholders as it "does not consider that the proposal in the EOI [expression of interest] is compelling."

Last month, a2MC announced it had received a conditional and non-binding EOI from "significant shareholder"​ Freedom Foods and an "unnamed leading international"​ dairy. 

Dean Foods, America's second largest dairy processor, was later confirmed as Freedom Foods' mystery partner.

a2MC has informed Freedom Foods and Dean Foods that despite the knock back "it is willing to have a discussion in relation to the EOI."

"Other confidential enquiries"

Dean Foods and Freedom Foods could, however, face competition, a2MC revealed.

"The Board has also received other confidential enquiries indicating potential interest in the Company, and is in the course of evaluating these,"​ today's statement continued.

It added, however, that "a takeover is not imminent."

"The Board remains of the view there is no certainty that any proposal will result in a transaction or offer capable of acceptance by the Company or its shareholders," ​it said.

Given the meteoric rise of a2 Milk, interest in a2MC is unsurprising.

a2 Milk is rich in A2 beta casein protein, but contains no A1 beta casein protein, which has been linked to digestive discomfort.

In Australia, a2 Milk controls a 9% value share of the country's fresh milk market.

a2MC has since established operations in the UK, China and the US.

Related topics Business Oceania Industry growth Dairy

Related news

Related products

Elevate your snacks with novel cheese flavours

Elevate your snacks with novel cheese flavours

Content provided by Givaudan | 23-Feb-2024 | Product Brochure

Aside from conducting desk research to understand snacking preferences and taste profiles among consumers in the Asia Pacific, Givaudan also embarked on...

Mastering taste challenges in good-for-you products

Mastering taste challenges in good-for-you products

Content provided by Symrise | 12-Sep-2023 | White Paper

When food and beverage manufacturers reduce sugar, salt, or fat and add fibers, minerals or vitamins, good-for-you products can suffer from undesirable...

Related suppliers

Follow us


View more


Food & Beverage Trailblazers

F&B Trailblazers Podcast