Jaska de Bakker – CFO
In 2018, FrieslandCampina made as many as four ‘cheese’ acquisitions. We also entered into a partnership with DMK Group (a German dairy company) concerning the production of mozzarella. “All these partnerships and acquisitions make a contribution to our strategy” according to Jaska de Bakker, Chief Financial Officer of FrieslandCampina.
“Scale matters; if we are number one or two in a country, we can afford to be present in all channels at all times.” Jaska thinks back to the year 2012, the year of the take-over of Alaska Milk Corporation in the Philippines. “An excellent company, the largest local player in the Philippines. Our business in the Philippines really keeps growing. This certainly was a highly successful acquisition. Also Engro Foods in Pakistan, acquired in 2016, offers huge opportunities. A lot of milk is still sold unpackaged in Pakistan and this is unhygienic. Now, the country is making a shift towards pre-packaged milk. This offers a lot of growth opportunities.”
All in all, acquiring companies can be attractive, but how do we know if a company is for sale and if it is a good match? “For this we have our Mergers & Acquisitions team in the Central Office in Amersfoort, the Netherlands. Based on the strategies and target list of the business groups they continuously follow up on companies that could strengthen the activities of FrieslandCampina. If there is a mutual intention to come to an acquisition or partnership, they carry out a due diligence, a thorough preliminary investigation into the actual state of the company. This is a crucial phase to ensure the best chance of success. The due diligence provides important insights into the value of the company as well as into the attention points for integration.”
In the right place
Having a grandfather who was a professor in milk hygiene, the love for dairy is in Jaska’s genes. “I really love dairy products. I eat and drink plenty of them. Besides, I am deeply impressed by how much nutrition is in dairy and the huge variety of products and ingredients we can make from milk. This is why I feel that I am totally in the right place working at FrieslandCampina!”