The European Commission this week granted British investment firm BC Partners clearance to acquire the Italian undertaking Galbani, a wholly owned subsidiary of the French Danone group.
Groupe Danone had entered into an agreement for the sale of its Galbani operations to BC Partners for €1,015 million. With a turnover of €1.1 billion, Galbani is a leader in the Italian cheese market and a major player in the cured meat market.
Food company Danone claimed that the sale of Galbani will enable the company to refocus on its core businesses and will enable the continued development of Galbani in cheese and cured meat markets in Italy and abroad. The sale of Galbani should enable Danone to improve the Group's key financial indicators: organic growth in turnover, operating margins and return on invested capital.