Arla Foods Makes Record Investment With $350 Million Cheese Bet

Arla Foods Amba, Northern Europe’s largest dairy company, will make its biggest investment ever, spending about €300 million ($350 million) to expand cheese production.

The Danish cooperative will build a new dairy plant at its existing site in Gotene, Sweden, according to a statement on Wednesday. Once operational in 2030, the facility will process about 1 billion kilograms (2.2 billion pounds) of milk per year — roughly double its current volume.