Aldi Buys Hungarian Dairy Brand

 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, Budapest Business Journal reports.

Mr 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.

Mr 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.

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