MERGERS AND ACQUISITIONS IN THE DEVELOPMENT OF ORGANISATION (ON THE BASIS OF MILK COOPERATIVE 'MLEKPOL' IN GRAJEWO) (Rola fuzji i przejec w rozwoju organizacji (na przykladzie spóldzielni mleczarskiej 'Mlekpol' w Grajewie)

Milk processing is an industry heavily influenced by globalisation and the growing competition. There are plenty of unprofitable companies that are liquidated due to the market changes. In some cases, some promising entities might be acquired by stronger companies as a result of restructuring initiatives or privatisation processes. It is extremely difficult for a single company to maintain a market position and develop further by undertaking various challenges. Mergers and Acquisitions (M&A) are therefore inevitable strategy. They seem to be key elements of consolidation process of the companies. On the basis of liquidated companies, new groups of companies are created and they gradually increase their market share. The aim of this study is to present the importance of M&A in the development of organisation. Milk Cooperative 'Mlekpol' in Grajewo has been used as an example of such organization. Takeovers executed by the 'Mlekpol' should be considered as incorporations or acquisitions. They can be perceived as a way to achieve various benefits from newly acquired assets, concentration of production and split of key competences.