Sector News

Parmalat acquires Chilean cheese companies in 100m euro deal

March 3, 2017
Food & Drink

Parmalat, the Lactalis-owned dairy company, has acquired a number of cheese companies in Chile for €100 million.

The acquisition, which is being completed through Parmalat’s subsidiary La Vaquita Holding, includes four production facilities with about 600 employees in total.

The brand portfolio includes, among others, the La Vaquita and Kümey brands.

Between them, the acquired companies generated revenue of about €95 million.

The Parma-headquartered company said that the deal would ‘strengthen its presence in South America’, allowing it to expand its business into a country where it currently only operates through a licensing agreement.

Source: FoodBev.com

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