A notification was also submitted to the European Commission under the Foreign Subsidies Regulation, which has already received a positive decision.
The implementation of the merger is subject to approval by the relevant competition authorities. FrieslandCampina and Milcobel will work closely with the relevant bodies to ensure the process is conducted carefully and transparently.
The agreement was signed by Mr. Moustapha Sangaré, Director of Cabinet of METFPA, and by Mr. Arikawe for FrieslandCampina.
400 employees will transition under Bonafarm’s leadership.
The company originally adopted precision fermentation to address the rising demand for plant-based protein alternatives and to expand its product offerings.