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Parmalat acquires cheese firms in Chile

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By Jim Cornall+

02-Mar-2017

Parmalat has acquired cheese making companies in Chile to expand in the region. Pic: ©iStock/mtrommer
Parmalat has acquired cheese making companies in Chile to expand in the region. Pic: ©iStock/mtrommer

Parmalat S.p.A. has announced that its La Vaquita Holding S.p.A. subsidiary has acquired some companies in the Chilean cheese sector.

The acquired companies include four production facilities with about 600 employees. The brand portfolio includes, amongst others, “La Vaquita” and “Kümey”.

In 2016, the acquired companies generated net revenue of about €95m ($100m). The enterprise value of the acquired businesses was set at about €100m ($105m) and the acquisition has been fully financed by the Group with its own resources.

Parmalat said the deal strengthens its presence in South America, expanding geographically in a country where it operates through a licensing agreement.

La Vaquita, which has four plants in Chile, also includes the Mulpulmo, Président and Santa Sara brands, and produces a range of cheese, cream cheese and butter.

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