Arla Foods Ingredients is closer to finalising the acquisition of Volac's whey nutrition business.
This follows approval from the UK's Competition and Markets Authority.
The regulatory board decided to give Arla Foods Ingredients the go-ahead after an evaluation, which took place post-acquisition agreement.
The acquisition would significantly bolster Arla's presence in the whey nutrition market, which is currently growing substantially.
As an increasing number of consumers are looking to incorporate protein supplements into their diet, Arla aims to cater to this demand with an uptick in its whey protein supply.
Commenting on the announcement, Luis Cubel, Group Vice President and Managing Director of Arla Foods Ingredients, said: “This is a very welcome decision at a time when demand for high-quality whey ingredients is growing. It means we’re a step closer to a significant acquisition that would consolidate our position as a leader in the whey nutrition space."
"We will now move forward with the formal process necessary to make Volac’s Whey Nutrition business part of Arla Foods Ingredients. Once that is complete, we will be able to comment further on the many advantages of bringing together these two major manufacturers of whey ingredients – not just for both companies, but also for our customers and the industry as a whole.”
Commenting on behalf of the Neville family, James Neville, joint owner of Volac, said: “We were always confident that Arla Foods Ingredients had the necessary expertise and values to take our Whey Nutrition business to the next level, and we are delighted to have reached this important step in the acquisition process. It’s great news for Volac Whey Nutrition, and for the whey ingredients sector, that these two innovative companies have been allowed to join forces.”