The invention relates to a process for the treatment of animal skim milk and for the production of an infant formula base product from animal skim milk, and preferably for the production of a nutritional product suitable for feeding toddlers from animal skim milk, which process is highly efficient and cost effective. All components of animal skim milk are utilized to their best potential, and the process thus produces hardly any waste. Even water may be recycles throughout the process. By carefully controlling the process parameters, a product is obtained in which most of the major components are within the desired range for an infant formula base product. The invention also relates to products obtainable by the process according to the invention.