Parmalat, majority-owned by French dairy giant Lactalis, has made a significant move to bolster its business in Australia 15 years after it...
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Fonterra this week made a significant move to boost its business in China, a market that has been problematic for the world's largest dairy exporter. We analysed the group's latest foray, a venture with infant formula producer Beingmate. Elsewhere, dairy dominated our coverage, with news of Parmalat closing in on an acquisition in Brazil and Emmi's surprise profit warning. Canadian dairy giant Agropur also featured on our interview pages, when CEO Robert Coallier sat down with us to discuss the co-op's recent M&A.
Parmalat is nearing a deal to acquire assets from bankrupt Brazilian dairy Lácteos Brasil (LBR).
Italy-based dairy group Parmalat has said its underlying performance in the second quarter was "significantly better" than the first three months of the year amid pressure from exchange rates and inflation in Venezuela.
Hitting headlines this week was the bidding war for Hillshire Brands which saw Tyson Foods and Pilgrim's Pride both go head to head. Elsewhere, Peters Food Group was acquired by R&R Ice Cream, while Nestle and Fonterra issued a statement saying they were scaling back their Latin American partnership. Also this week, Synlait Milk announced it was revising its 2014 earnings outlook and Danish Crown announced 190 jobs would go as it chose to close its Bornholm slaughterhouse.
A "sharp increase" in cost of raw milk and the negative impact of currency exchange weighed on first-quarter earnings at Italian dairy giant Parmalat.
The Italian dairy group was in the spotlight last year after minority investors complained about its acquisition of Lactalis American Group, the US-based arm of majority shareholder Lactalis. This week, an appeals court in Italy brought an end to the protracted legal dispute.
Days after Parmalat announced it had acquired Australian dairy and fruit juice firm Harvey Fresh comes news of a deal of another sort for the Lactalis-owned Italian dairy giant.
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