DAIRY CREST GROUP PLC

DAIRY CREST GROUP PLC

Previous company name
FENNELVALE LIMITED
Name change date
6/24/1996
Company Overview
Dairy Crest Group, with headquarters in Esher, is a manufacturer and trader of milk and dairy products. Dairy Crest is UK’s premier chilled dairy foods company focused on building leading positions in branded and added-value markets across the dairy sector. Dairy Crest was established in 1933 as the milk processing operation of the Milk Marketing Board. Dairy Crest’s products include: spreads, cheese, fresh dairies, specialised milk powders, butter, milk concentrates, stabilised creams, buttermilk powder, lactose and whey powder, together with a wide ranging selection of cheeses and cheese products for the food manufacturing industries. Dairy Crest also provides doorstep deliveries operation where milkmen and milkwomen deliver milk and other products to its customer’s homes throughout southern England, South Wales, East Anglia, and the Midlands. Dairy Crest production sites are located in Aspatria, Davidstow, Frome, Harlington, Haverfordwest, Maelor, Wexford, Chadwell Health, Chard, Fenstanton, Enfield, Yeovil, Rayleigh, Hanworth, Severnside, Totnes, Crudgington, and Kirkby. Its national distribution cente is located in Nuneaton while it’s household retail distribution is in Aldershot. Dairy Crest’s spreads brands include: Clover, Utterly Butterly, St Ivel Gold, Country Life, Vitalite and Willow. Its cheese brands include: Cathedral City, Davidstow, Wexford, Hartington and Over the Moon. Its liquid products brands include: St. Ivel, FRijj, and Rachel’s Organic. Its fresh dairy brands include Petits Filous, Frubes, Yop, and Weightwatchers. Dairy Crest has a strategic alliance with Yoplait in developing and marketing chilled yoghurt and desserts.
Business Summary
The principal activity of the Group are the manufacture, processing and distribution of milk and dairy products.
Description and history
The principal activity of the Group are the manufacture, processing and distribution of milk and dairy products.

History
The Company was incorporated on 22 February 1996 and listed on the Alternative Investment Market of the London Stock Exchange on 28 August 1996.

In 1970, the Country Life butter brand is launched by the English Butter Marketing Company Ltd.

In 1981, the Milk Marketing Board’s milk processing operation was made into a separate division called Dairy Crest. It was the buyer of last resort for all surplus raw milk,ensuring that all milk producers in the country will have a buyer for its milk.

In 1983, the Company launched Clover, the dairy spread.

In 1987, the Company become a limited company.

In 1991, the Company created a joint venture company with the French company Yoplait SA called Yoplait Dairy Crest. The Company has exclusive distribution rights in the UK for Yoplait’s branded fresh dairy products, including the children’s favourite fromage frais brand, Petits Filous.

In 1993, the Company launched Frijj, the fresh flavoured milk drink.

In 1994, the deregulation of the UK milk market occurred. It has relieved of its role as the buyer of last resort for all surplus raw milk, and it was able to source only the raw milk necessary to meet its commercial needs.

In1995, the Company acquired a leading cheese company, Mendip Foods Limited, and with it the Cathedral City brand. As a result, it became the leading supplier of mature cheddar in the UK.

In March 1996, Yoplait Dairy Crest launched Petits Filous Frubes.

In August 1996, the Company floated on the London Stock Exchange as Dairy Crest Group plc.

In 1999, the Company became the leading producer of Stilton after acquiring Millway Foods Limited.

In July 2000, the Company acquired the dairy and cheese businesses of Unigate plc (now Uniq plc), including the St Ivel Cream brand. This made it the largest dairy company in the UK.

In November 2000, the Company announced plans to invest Ј54 million to upgrade and enlarge its London and Severnside sites.

In November 2001, the Company completed the new investment at its London site situated in Chadwell Heath. It has a processing capacity of 400 million litres of milk per annum.

In November 2002, the Company acquired the St Ivel spreads business, including leading brands Utterly Butterly, St Ivel Gold, Vitalite and the UK licence for the Carapelli band, together with a well-invested manufacturing site in Kirkby, Liverpool.

In December 2002, the new investment at the Company’s Severnside site in Gloucestershire becomes fully operational. Overall, the site has a processing capacity of 500 million litres of milk per annum.

In August 2003, recognising that a healthier lifestyle has become the goal for more and more people, the Company relaunched St Ivel Gold with a new low fat recipe (now just 35% fat and low in trans fatty acids).

In July 2004, the first phase of the Company’s Ј50 million investment to upgrade and create a world leading cheddar creamery at Davidstow has been completed. The production of market-leading mature cheddar brands, Cathedral City and Davidstow, started in the new facility.

In September 2004, the Company acquired the minority interests in the English Butter Marketing Company, giving the company 100% ownership of the Country Life brand.

In May 2005, the Company acquired both Starcross Foods, a modern fresh milk processing facility in Derbyshire, and the dairy business and assets from the Midlands Co-operative Society.

In October 2005, the Company acquired the London Food service business of Aral Foods (UK).

In August 2006, the Company acquired the Express Dairies Depot operations and Arla’s Liverpool and Nottingham dairies to create the UK’s leading doorstep and middle ground business.

In October 2006, to allow the Company to focus on developing its cheese brands, it sold the majority of its retailer brand cheese operation to First Milk Limited for Ј61.9m.

In January 2007, the Company acquired the St Hubert spreads business, including leading brands Cholegram, Le Fleurier and Omega 3 which are among the top selling spreads in France; and Vallй, the market leader in Italy. The acquisition has included a factory in Ludres and an office just outside Paris in Rungis.

IN February 2008, Dairy Crest Limited acquired the dairy distribution business of the East of England Co-operative Society Limited.

started as the milk processing operation of the Milk Marketing Board

Business Line
Manufacturer and distributor of milk and dairy products
Subsidiary
AGRI ASSIST LIMITED
Advisor
ERNST & YOUNG LLP
IPO date
8/28/1996
US SIC Code
2023
Company Address
Claygate House
Littleworth Road
City province or state postal code
KT10 9PN, ESHER
Phone: +44 1372 472 200
Fax:
Country address: UNITED KINGDOM
Website url: www.dairycrest.co.uk