Parmalat S.p.A. announces that, on May 1, 2017, its LAG Holding Inc. subsidiary acquired two companies operating in the dairy sector in the United States of America.
With this transaction, the Parmalat Group acquires an important business active in the ethnic
specialties segment in the United States, increasing its current portfolio of gourmet cheeses and
entering the yogurt market.
The acquisition includes a production facility in Turlock, California and two companies with
approximately 140 employees. The brand portfolio includes, among the main trademarks, the
“Karoun”, “Gopi” and “Blue Isle” brands.
In 2016, the two companies had net revenue of about $55 million.
The enterprise value of the acquired business was set at about $130 million and the acquisition
has been entirely financed with internal resources.
A new wave of brands is emerging that promotes indulgence and rejects the notion of sacrifice. Low-maintenance “hangover” beauty products are designed to address the effects of late nights and partying without judgment or hassle, and even include cosmetics that are formulated in a way that means you can fall asleep in your makeup without feeling guilty.
The pilot will allow the company to scale circular packaging in about 18 markets over the next three years, an approach that jumps on the success of similar efforts in the company’s Indonesia ecoSPIRITS program, which launched in 2022 and is active in 38 bars.
Unilever’s focus on purpose across its brands has been a source of criticism from some of its investors. Its new CEO Hein Schumacher says the company now recognises there are some brands where the concept is simply not relevant.