Norton Rose Fulbright advises on transformational Arla Foods/DMK Group merger

Global law firm Norton Rose Fulbright advised long-standing client Arla Foods on its merger with DMK Group, effective on 1 June 2026 - creating Europe's leading dairy cooperative of more than 12,000 farmers across seven countries and generating €19 billion in annual revenue.

Norton Rose Fulbright advised on all antitrust and multiple corporate aspects of the landmark transaction, successfully navigating complex merger control and foreign direct investment regimes to achieve unconditional clearances.

The antitrust team coordinated engagement with regulators across 13 jurisdictions, covering analysis of the parties' activities across the dairy value chain - from raw milk sourcing to the supply of dairy products and whey-based ingredients. The deal received Phase 1 unconditional approval from the European Commission on 28 May 2026.

The corporate team inter alia conducted due diligence and assisted in the negotiation of the business combination agreement, the preparation of the merger documentation, and completion of the business combination of Arla and DMK Group.

The merger marks a defining moment for Arla Foods and supports its strategic ambition to continue to build resilient food systems in the dairy sector, strengthening food security and delivering long-term value for its dairy cooperative farmer members.

The cross-border Norton Rose Fulbright regulatory and antitrust team was led by Ian Giles (Head of Antitrust, Competition and Regulatory EMEA, London/Brussels), Dr Tim Schaper (Head of Antitrust, Germany, Hamburg), Violetta Bourt (Counsel, Brussels), Shaha El-Sheemy (Counsel, London) and Clio Angeli (Counsel, London). They were supported by economists from RBB Economics.

The cross-border Norton Rose Fulbright Corporate/M&A team was led by Dr Heiko Bertelmann (Partner, Hamburg). The core corporate team comprised Jon Perry (Partner, London), Heimon Smits (Partner) and Stefanie Walthaus (Counsel) (both Amsterdam).

Additional core team members included antitrust associates Dr David Fila (Brussels), Maya Paniara (London), Emma Farrugia (London), Hector Ribeiro (London), Maxine Richard (London), Dr Noby Cyriac (London), Angelos Vlazakis (Brussels), Julien Haverals (Brussels) and Oscar Baker (Brussels), and senior associate Dr Tobias Teichner (Hamburg), as well as corporate associate Marcel Gießler (Hamburg).

Ian Giles commented:

"We are delighted to support Arla Foods on this transformative transaction. Securing unconditional approvals across multiple jurisdictions highlights our ability to deliver complex, cross-border deals and reinforces our deep expertise in the global food sector."

Heiko Bertelmann added:

"We are excited to advise Arla Foods on this large cap M&A transaction, a true landmark merger, which will set the stage for a new era of the European dairy industry."

Norton Rose Fulbright's global antitrust and competition practice includes more than 150 lawyers who advise on all aspects of antitrust law, ranging from multinational mergers and clearances to antitrust litigation, cartels, abuse of dominance, international investigations and compliance.

The firm's M&A lawyers are known for providing high-quality, strategic transactional M&A advice to clients around the world, advising on some of the most high-profile, complex and significant transactions in the market. With more than 450 M&A partners and 700 other M&A lawyers across its 50 offices worldwide, the firm provides a truly integrated and global approach on both domestic and cross-border M&A deals.