Completion of sale of Dairies operations

29 December 2015

Dairy Crest Group plc ("Dairy Crest")

Dairy Crest completes sale of its Dairies operations to Müller UK & Ireland Group LLP

Dairy Crest confirms that it completed the sale of its Dairies operations to Müller UK & Ireland Group LLP ("Müller") on 26 December 2015.

Mark Allen, Chief Executive of Dairy Crest, commented:

"We are delighted that the sale has successfully completed. This is a transformational moment for Dairy Crest and the wider dairy industry and helps bring much needed stability to the UK dairy sector.

"I would like to thank everyone who has contributed to Dairy Crest's Dairies business over the years. Together we have built a business of which we can be proud and which has an exciting future under Müller's ownership. Special thanks go to those people who have worked so hard over the Christmas period to ensure that the sale could proceed on Boxing Day.

"Dairy Crest can now focus on growth, through both our branded cheese and spreads operations and new revenue streams from manufacturing products for the fast-growing global infant formula market."

Dairy Crest expects to issue an Interim Management Statement for the nine months ending 31 December 2015 on 11 February 2016.