Dutch dairy cooperative FrieslandCampina has agreed to sell its fruit juice business unit Riedel to Netherlands-based company Standard Investment.

Completion of the transaction is subject to approval by the Authority for Consumers and Markets and conclusion of the works council consultation, which is expected to take place by the end of this year.

Established in 1879, Riedel offers a wide range of fruit-based beverage brands including Appelsientje, CoolBest, DubbelFrisss, DubbelDrank, Taksi, and Extran.

Royal FrieslandCampina executive board member Roel van Neerbos said: “We were looking for a buyer that will be able to take Riedel to a next phase.

"Riedel offers a wide range of fruit-based beverage brands including Appelsientje, CoolBest, DubbelFrisss, DubbelDrank, Taksi, and Extran."

“With its broad knowledge and experience, Standard Investment came out best here. I am convinced that the new owners will make optimum use of the market opportunities of Riedel as an independent company.”

Founded in 2004, Standard Investment firm invests in small and medium-sized businesses in the Netherlands and Belgium. The acquisition of Riedel is expected to further enhance its portfolio.

The Dutch investment company also holds a stake in Burger King Netherlands and pre-baked bread producer Dutch Bakery.

Image: FrieslandCampina sells Riedel Standard Investment. Photo: courtesy of FrieslandCampina.