Sector News

South Africa's Aspen to sell infant formula unit to Lactalis for $864 mln

September 14, 2018
Consumer Packaged Goods

Aspen Pharmacare, Africa’s biggest generic drugmaker, said on Thursday it will sell its global infant formula business to French dairy group Lactalis for 12.9 billion rand ($864.46 million), as it seeks to cash in on growing demand for baby milk.

The business sells infant milk formula in the Asia-Pacific, Sub-Saharan Africa and Latin America, and has a growing presence in the Middle East and China. ($1 = 14.9226 rand)

By Nqobile Dludla

Source: Reuters

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