Louis Dreyfus Commodities to buy Dutch dairy trader Ecoval
The Switzerland-based commodities trader has agreed to purchase all outstanding shares of Ecoval Holdings BV from the firm’s current shareholders – Belgium-based Prominter NV and Dutch firm CV Datrex Beheer.
Ecoval, which boasts offices in Europe, the US, Australia, Argentina and China, recorded global sales of €530m in 2011 after handling approximately 250,000 tonnes of dairy products and ingredients including cheese, butter, powdered milk and whey protein.
“This acquisition is a significant step for the development of LDC’s dairy platform and will elevate us to be an important player in the global trade markets for a diverse portfolio of dairy products,” said Louis Dreyfus Commodities global chief operating officer Ciro Echesortu.
“We are convinced that the longstanding legacy of Ecoval’s presence in the dairy products markets worldwide, combined with LDC’s global presence and risk management expertise, will enhance our marketing and distribution activities, with special focus in serving growing demand in emerging markets such as Asia, Africa and Latam,” added Echesortu.
LDC expects the acquisition, which is subject to regulatory approval, to be completed in the second half of 2012.
DairyReporter.com approached Louis Dreyfus for additional information on efforts to increase its emerging market presence, but none were forthcoming before publication.