Parmalat agrees $105m deal for Mexican cheese businesses
Italian dairy Parmalat has agreed to acquire a selection of Central and South American cheese production and distribution sites for US$105m (€92.5m).
Collecchio-based Parmalat, itself a subsidiary of French dairy giant Lactalis, announced late last week it has agreed to buy "a group of companies that operate mainly in Mexico."
The businesses, which reported revenue of around US$197m (€173.5m) in 2013, boast a plant in Mexico, two in Uruguay, another in Argentina.
They also operate a network of 20 distribution sites in Mexico.
For its investment, Parmalat will also acquire a portfolio of cheese brands, including Esmeralda, El Ciervo, Mariposa, and La Campesina Holandesa.
The deal, which may be adjusted if net debt exceeds US$48m (€42.3m), is subject to relevant competition authority approval.
