Grupo Lala completes sale of remaining 50% stake of Itambé to CCPR

By Mary Ellen Shoup contact

- Last updated on GMT

CCPR decided to repurchase its 50% stake in Itambé, valued at US$216m (R$700m).
CCPR decided to repurchase its 50% stake in Itambé, valued at US$216m (R$700m).
Grupo Lala has completed the sale of a 50% stake in Itambé, which belonged to Vigor Alimentos, to the Cooperativa Central dos Produtores Rurais de Minas Gerais Ltda (CCPR) for US$216m (R$700m).

Both Vigor and CCPR had a 50% stake in Itambé and the cooperative decided to purchase the other half of the Brazilian dairy brand, leaving Grupo Lala with 99.9% of the shares of Vigor for an implicit value of US$1.3bn (R$4.3bn).

“We want to highlight that Lala's interest is in the value-added dairy segment, where Vigor has widely recognized brands, such as Vigor, Danubio, Faixa Azul, Serrabella, Leco, and Amelia; and with a strong presence in the fast-growing segments; occupying the #1 position in Greek yogurt, spreadable, fresh and grated cheeses, and #2 in yogurt,”​ Grupo Lala said.

Grupo Lala will also be acquiring Vigor’s consolidated infrastructure of more than 3,900 employees, three milk collection centers, nine production plants, 19 distribution centers, and 47,000 points of sale, with a strong presence in São Paulo, Minas Gerais, and Rio de Janeiro

Interest from Lactalis

Groupe Lactalis SA said in a statement that it would acquire Itambé Alimentos SA in the first half of 2018 to expand its presence in the Latin American market.

Most recently, Lactalis acquired BRF’s (Brasil Foods) dairy business in 2015 adding to its other Latin American acquisitions including Lacteos Brasil, Balkis, Esmeralda, and Italian dairy company Parmalat that has a footprint in Central and South America.

The deal, including a long-term supply contract between CCPR and Itambé, is subject to approval by antitrust agency Cade.

Related news

comments

Post your comment

We will not publish your email address on the website

These comments have not been moderated. You are encouraged to participate with comments that are relevant to our news stories. You should not post comments that are abusive, threatening, defamatory, misleading or invasive of privacy. For the full terms and conditions for commenting see clause 7 of our Terms and Conditions ‘Participating in Online Communities’. These terms may be updated from time to time, so please read them before posting a comment. Any comment that violates these terms may be removed in its entirety as we do not edit comments. If you wish to complain about a comment please use the "REPORT ABUSE" button or contact the editors.