Dairy firm Arla Foods UK has been acquired by its parent company Arla Foods amba in a deal worth £434.5m.

Arla Foods amba yesterday acquired the 49% stake it does not already own in Arla Foods UK for 71p per share.

“This offer from Arla amba represents fair value for shareholders and will allow Arla Foods UK to continue its development for the benefit of its staff, customers and suppliers,” added Sir David Naish, chairman of Arla Foods UK.