Aldi buys Hungarian Kokárdás dairy brand
Image by Pixabay
The Hungarian unit of German-owned discount chain Aldi has purchased the Kokárdás brand of the Hungarian dairy producer Alföldi Tej, the two companies announced on Friday.
The companies have been cooperating for ten years, Alföldi Tej managing director Tibor Mélykuti said. They have been offering 12 products under the brand since 2015, Aldi Magyarország managing director Bernhard Haider added at a press conference, cited by national news agency MTI.
This is the first time that Aldi has acquired ownership in a Hungarian brand. Haider said the retailer also plans to sell products under the Kokárdás brand name that Alföldi cannot produce but other manufacturers can make at the required standard. The partners would not reveal the value of the transaction, citing business confidentiality.
Alföldi Tej has spent HUF 10 billion on developments at its Szekesfehervar unit since its acquisition in 2004-2005. It purchased a second dairy plant in Debrecen in 2015, where it is building a HUF 12 billion cheese and powdered milk unit, due to be completed in 2019.
Alföldi Tej employs 630 people at its two units in Debrecen and Székesfehérvár. It had revenue of more than HUF 53 bln in 2017. Aldi operates a nationwide retail chain of 129 stores in Hungary, employing almost 3,000 workers.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.