Danish dairy giant Arla Foods has placed its juice business on the market according to a report from Reuters news agency.

Rynkeby Foods A/S is the largest juice producer in Northern Europe. The Arla subsidiary produced €150m in revenues last year.

Arla Foods deputy CEO Povl Krogsgaar said: “Rynkeby is the last remaining subsidiary that is not linked to milk and in our judgement Rynkeby will be better off with a new owner who can carry on the development of that business.”

Arla is a farmer owned Co-op with 13,000 shareholder farmers in Northern Europe. The intention for Arla is to concentrate on its core dairy business where it is the seventh largest dairy company in the world with operations in Denmark, Sweden, Germany, Netherlands, Finland and the UK as well as North America and New Zealand.

Arla’s business includes the sale of liquid milk, Lurpac and Anchor butter and Castello cheeses. The Co-op reported revenues of €10.6bn last year.