Dairy Crest could be set for UK acquisitions after announcing a potential sale of its French spreads brand St Hubert.
Dairy Crest this morning announced its intention to commence a strategic review of St Hubert to evaluate all possible options. Those options could include a divestment of St Hubert, the company said in a statement.
Since being acquired by Dairy Crest in January 2007, St Hubert has consistently increased its market share and profitability, but the company said it had been unable to make “additional synergistic acquisitions” in Continental Europe as planned.
If St Hubert was sold, one option available to Dairy Crest would be to make strategic acquisitions of branded businesses in the UK, it said, adding: “Any acquisitions would be synergistic and made within strict financial criteria, as will any decision over the future of St Hubert.”