Parmalat to buy South African cheese
to buy two South African-based cheese brands for €7.5 million.
Italian dairy group Parmalat Finanziara announced today that it is to buy two South African-based cheese brands for €7.5 million. The business has agreed to pay 65 million rand for the Simonsberg and Melrose cheese brands, which are currently owned by Unilever Bestfoods Robertsons South Africa.
The deal also includes the acquisition of a production facility. In total, the acquired units reported a revenue last year of €16 million according to the Dow Jones Newswire.
This acquisition by Parmalat, reflects the group's ongoing focus on its core dairy business. Parmalat has indicated in the past that it is looking to dispose of some of its baked goods units.
The finalisation of the acquisition remains subject to approval by South African antitrust authorities.
