Lactalis do Brasil, a subsidiary of Groupe Lactalis, has announced the closing of its acquisition of Brazilian dairy company Itambé.
Founded in the state of Minas Gerais 70 years ago, Itambé Alimentos transforms 3 million litres of milk a day to produce a range of more than 160 dairy products.
With 7,000 suppliers and 3,600 employees, Itambé is one of the largest dairy players in Brazil. The firm has five production facilities: four in Minas Gerais and one Goiânia.
Lactalis entered the Brazilian market in 2013 with the acquisition of Balkis. In 2015, it expanded its operations with two further acquisitions.
Lactalis do Brazil has 5,000 employees and 14 production facilities in eight states. The company offers dairy products under brands such as Batavo, Président, Elegê, Cotochés, Poços de Caldas and Parmalat.
Lactalis said it will now be able to process 2.3 billion litres of milk a year in Brazil.
The announcement comes days after the company completed the acquisition of Ehrmann Commonwealth Dairy, the US yogurt business of Germany-based dairy company Ehrmann.
Earlier this year, Lactalis acquired Italian cheesemaker Nuova Castelli from private equity firm Charterhouse Capital Partners.
France-headquartered Lactalis has an annual turnover of around €18.5 billion, with cheese making up a third of its business.
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The funds will be primarily allocated to boost business growth, integrate new technologies in the industry, expand manufacturing facilities, transform its portfolio and advance the sustainability agenda in Nestlé’s chocolate, coffee, pet care and nutrition segments in Brazil.