Danish co-op sold to joint venture
In its formal decision backing the establishment of a new Daka joint venture, the Commission said it had “decided not to oppose the notified operation”, ruling the deal “would not significantly impede effective competition” in the European Union (EU) meat sector.
The newly-constituted Daka will take over the activities of existing Danish cooperative Daka amba, including animal rendering, and animal feed ingredients, fertiliser and meat-based biofuels in Denmark and Sweden, said the decision report. SARIA will hold 51% of Daka’s share capital, while Danish Crown will hold 42.9%. The remaining share will be split between Denmark-based Tican Fresh Meat and Slagteriet Brørup, and Sweden-based Scan.
SARIA’s chairman Kurt Stoffel welcomed the decision and hailed Daka’s activities as part of “the trend towards consolidation within the agriculture and meat industries and ongoing globalisation in the processing of animal by-products”.
SARIA produces proteins and fats from animal by-products, food and feed ingredients, and biogas. Denmark-based Danish Crown owns slaughterhouses for pigs and cattle, processing and trading meat worldwide. SARIA had been working with Daka to develop biofuels since 2006.
