Arla Foods to Invest £180 Million in Mozzarella Export Expansion
Source: The DairyNews
Arla Foods, known for brands like Cravendale and Lurpak, is set to invest nearly £180 million to facilitate the export of mozzarella worldwide over the next three years. The Leeds-based company plans to upgrade its Devon-based creamery, Taw Valley, with state-of-the-art technology, leading to the creation of over 100 jobs in the region.
The move aligns with Arla's commitment to meeting the increasing demand for dairy products globally while ensuring fair returns to its farmer owners. Bas Padberg, managing director of Arla Foods UK, emphasized the significance of the investment in enhancing the value of milk produced by the cooperative's farmers.
Arla Foods UK reported a 2.4% revenue growth to £2.6 billion in 2023, following a substantial 17.5% increase in 2022. However, the group's total turnover for 2023 experienced a slight decline due to negative currency effects, with net profits at the lower end of the target.
Arthur Fearnall, Arla Foods UK board director and Arla farmer, expressed pride in the significant investment and looked forward to witnessing the progress at Taw Valley Creamery.
Looking ahead to 2024, Arla anticipates a revenue range of €13.2 billion to €13.7 billion, citing reduced sales prices compared to record highs in early 2023 and adverse currency effects as contributing factors.
Peter Giortz-Carlsen, COO of Arla Foods Europe, highlighted the strong growth of the mozzarella business over the past five years and emphasized the investment's strategic importance in further expanding their global presence, particularly in the foodservice sector.
Arla Foods UK reported a 2.4% revenue growth to £2.6 billion in 2023, following a substantial 17.5% increase in 2022. However, the group's total turnover for 2023 experienced a slight decline due to negative currency effects, with net profits at the lower end of the target.
Arthur Fearnall, Arla Foods UK board director and Arla farmer, expressed pride in the significant investment and looked forward to witnessing the progress at Taw Valley Creamery.
Looking ahead to 2024, Arla anticipates a revenue range of €13.2 billion to €13.7 billion, citing reduced sales prices compared to record highs in early 2023 and adverse currency effects as contributing factors.
Peter Giortz-Carlsen, COO of Arla Foods Europe, highlighted the strong growth of the mozzarella business over the past five years and emphasized the investment's strategic importance in further expanding their global presence, particularly in the foodservice sector.
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