Hungarian Government Blocks Foreign Acquisition of Dairy Giant
Sourse: dairynews.today
The Hungarian government has intervened to prevent Greek company Hellenic Dairies from acquiring Alföldi Tej Kft, citing food security concerns.
The Hungarian government has thwarted an attempt by the Greek firm Hellenic Dairies to purchase Alföldi Tej Kft, a major player in Hungary's dairy sector. The Ministry for National Economy justified the move by claiming the deal could threaten Hungary's food security, as reported by Világgazdaság. Consequently, the dairy company has now offered its shares to the Hungarian state, with acquisition talks set to commence shortly. This acquisition aims to ensure the continued availability of Alföldi Tej products at competitive prices.
Alföldi Tej Kft. significantly contributes to the local dairy industry, processing 270 million liters of raw milk annually and employing over 15,000 individuals. The company, founded in 2003, boasted a revenue of HUF 74 billion (approximately EUR 190 million) last year and operates on a cooperative model with its Hungarian farmer-owners. It runs production facilities in Székesfehérvár and Debrecen, producing various dairy products, including UHT and ESL milk, yogurt, kefir, and diverse cheese varieties. The Hungarian government emphasizes that bolstering the nation's food industry and maintaining sovereignty are critical priorities. Alföldi Tej's product lines include beloved Hungarian brands and health-orientated offerings, catering to a broad spectrum of consumers.
Alföldi Tej Kft. significantly contributes to the local dairy industry, processing 270 million liters of raw milk annually and employing over 15,000 individuals. The company, founded in 2003, boasted a revenue of HUF 74 billion (approximately EUR 190 million) last year and operates on a cooperative model with its Hungarian farmer-owners. It runs production facilities in Székesfehérvár and Debrecen, producing various dairy products, including UHT and ESL milk, yogurt, kefir, and diverse cheese varieties. The Hungarian government emphasizes that bolstering the nation's food industry and maintaining sovereignty are critical priorities. Alföldi Tej's product lines include beloved Hungarian brands and health-orientated offerings, catering to a broad spectrum of consumers.
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