Dairy Crest sees butter and spreads business hit
The group, which is selling it dairy arm to Germany’s Muller for £80 million, said sales of Clover and Country Life had fallen in the 12 weeks to the end of June in line with the wider butter and spreads market.
However, the firm added that sales of its flagship Cathedral City cheese brand had “another strong quarter, during which it has continued to grow sales and market share”.
Muller, which announced its deal in November, will acquire four dairy sites and 72 depots from Dairy Crest, as well as the flavoured milk brand Frijj.
Dairy Crest said the deal had already been approved by its shareholders and was being looked at by the Competition & Markets Authority. It added it expected to complete this sale before the end of the year.