Dairy Crest Group to reduce debt with sale of St Hubert spreads business

Dairy Crest Group is looking to sell its French branded spreads business, St Hubert, in a deal that analysts expect will fetch the dairy foods company about €360m.

A potential sale of the spreads business, considered by analysts to be the group’s “jewel in the crown”, could also help Dairy Crest reduce debt and focus on its British business.

Since acquiring the Hubert business in January 2007, Dairy Crest had been unable to make additional deals in continental Europe as it had planned, the company said in a statement.