There may be caution over the prospect for blockbuster deals in a dilapidated economic environment, but the food sector mergers and acquisit...
In 2003, Parmalat grabbed Europe's business headlines after collapsing with a EUR14bn hole in its accounts. It was the continent's biggest b...
There may be caution over the prospect for blockbuster deals in a dilapidated economic environment, but the food sector mergers and acquisitions table still has plenty to whet the appetite.
Lactalis threw down the gauntlet - and blew away any post-Easter cobwebs on consumer goods newsdesks in Europe - in the battle for the ownership of Italian dairy group Parmalat this morning (26 April) with a takeover bid for the entire business.
Nestle CEO Paul Bulcke faced questions over the food group's performance after it missed analyst expectations and lowered its forecast for underlying annual sales. Mondelez International explained why it was confident Belvita breakfast biscuits could succeed in China, while Kantar Worldpanel outlined how local products had gained an edge over international brands.
Italian dairy group Granarolo has acquired 25% of European Foods, a distributor of Italian products in New Zealand.
Greek food group Vivartia has secured distribution for its Delta Greek yoghurts and cheeses in France and Italy after a deal with Italian dairy firm Granarolo.
Granarolo has taken a minority stake in goat's milk specialist Amalattea in a deal the Italian dairy group said would provide it with access to the growing category.
Italian dairy group Granarolo has announced its entry into France via the acquisition of French cheese maker CIPF Codipal for an undisclosed fee.
Italian dairy company Granarolo has snapped up local cheese maker Lat Bri.
Italian companies are reportedly not preparing a counter bid for Parmalat, the country's largest dairy processor, which is subject to a EUR3.4bn takeover offer from France's Lactalis.
Lactalis, the French dairy giant, has upped the ante in the battle for Italian rival Paramlat with the announcement this morning (26 April) of a takeover bid for the entire business.
Italian dairy group Parmalat, facing speculation about its future after Lactalis's investment in the company, has refused to be drawn on reports linking it with a possible move for smaller rival Granarolo.
Italian dairy group Granarolo saw its profits drop in 2010 on the back of what it described as a "complex economic scenario", hit by rising raw-material costs and the economic crisis in its domestic market.
The Italian government has passed a new law that could allow Parmalat to postpone its AGM, potentially giving critics of Lactalis's investment in the Italian dairy giant more time to consider their options.
Three funds have entered into an agreement to sell their 15.3% stake in Parmalat to Lactalis because their plans to elect a "highly-qualified board" have been "compromised".
Lactalis today (22 March) announced it has entered an agreement to buy a further 15.3% stake in Italian dairy and food manufacturer Parmalat, increasing its shareholding to 29%.
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