Parmalat Expands in Brazil
Parmalat is acquiring the UHT milk and cheese manufacturing facilities along with certain brands of…Parmalat is acqu
iring the UHT milk and cheese manufacturing facilities along with certain brands of Brazilian dairy business Lácteos do Brasil for R$250 million (Eur83 million). The operations being acquired had 2013 proforma revenues of about R$580 million (Eur190 million).The transaction, which is being carried out through Parmalat’s Brazilian subsidiary Lactalis do Brazil, is subject to sanction by the competition authority. The deal will permit the Italian dairy giant to regain full title to the exclusive license to use the ‘Parmalat’ brand for the production and distribution of UHT milk throughout Brazil.
