Milcobel Plans to Sell YSCO to Davidson Kempner

Belgian dairy cooperative Milcobel announced its intent to sell its subsidiary YSCO to Davidson Kempner Capital Management, with Afendis Capital Management as an operational partner. Financial details were not disclosed. Houlihan Lokey advised Milcobel in the negotiations.

YSCO, founded in 1949, specializes in private label ice cream production for major European retailers, with facilities in Belgium and France, distributing 190 million liters annually. The European private label ice cream market is growing at 5 percent CAGR, and YSCO is well-positioned to benefit from this growth.

The transaction, pending regulatory approval, will benefit Milcobel’s dairy farmers, allowing for debt reduction and further investment in dairy production. Milcobel CEO Peter Grugeon expressed confidence in Davidson Kempner and Afendis to accelerate YSCO’s growth and success.

Milcobel, one of Belgium’s largest dairy cooperatives, processes 1.3 billion liters of milk annually into high-quality dairy products. The company achieved a turnover of 1.3 billion in 2023. Davidson Kempner is a global asset manager with 38 billion dollars in assets and offices worldwide.