Parmalat is an international food processing company. Founded by Calisto Tanzi in 1961, Parmalat is a public company, listed on the Italian Stock Exchange as PLT, but majority-owned by Lactalis. The head office for Parmalat is located in Collecchio, Italy.
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The proposed sale of BRF's Brazilian dairies unit to Lactalis-owned Parmalat looks set to be a win-win for both companies. BRF is focusing on improving the performance of its core meat operations and the group would leave the transaction better positioned to step up its expansion into international protein markets. Meanwhile, Lactalis will strengthen its hand in the promising Brazilian dairy sector, leaving the company well-placed as a global dairy powerhouse. Katy Askew reports.
Parmalat, majority-owned by French dairy giant Lactalis, has made a significant move to bolster its business in Australia 15 years after it first entered the market. Parmalat has snapped up Australian dairy and fruit juice firm Harvey Fresh, a deal industry watchers believe could help the Italian firm's local business and help it expand its presence in Asia. Dean Best reports.
Canadian dairy giant Saputo is expanding apace internationally as it looks to offset domestic challenges with growth overseas. The group is expanding capacity in Argentina, has taken majority ownership of Australia's Warrnambool Cheese and Butter Factory in Australia and is hungry for more international M&A. Katy Askew reports.
"The Great Deceleration" warned a front cover of The Economist in July, as the magazine reflected on a cooling in the BRIC markets. FMCG companies are upbeat about the long-term prospects of these economies but will have to adapt as period of slower growth.
French dairy group Lactalis, the majority owner of Parmalat, has launched a voluntary tender offer to take full control of the Italian dairy business.
Italian dairy group Parmalat said its sales in the first nine months of this year fell due to low milk prices – a consequence of high European production – and the negative impact of foreign exchange.
Parmalat, the Italy-based dairy business in which France's Lactalis holds a majority stake, has booked higher first-quarter profits, thanks to "improved results" in the US and Europe.
Parmalat, the Italy-based dairy group, today (24 May) booked lower first-quarter profits amid the challenging economic conditions in Venezuela and pressure from foreign exchange.
Parmalat has named Gabriella Chersicla as its new chairperson after after three of the directors nominated by majority shareholder Lactalis quit their positions last month, prompting the Italian dairy group to elect a new board.
Parmalat, the Italy-based dairy group, needs to elect a new board after three of the directors nominated by majority shareholder Lactalis quit their positions.
Parmalat saw revenue and EBITDA rise in 2015 but reported a fall in net profit due in part to the volatility in Venezuela.
This week Fonterra announced it was selling its yoghurt and dairy business in Australia to Parmalat, Chinese fruit groups Golden Wing Mau and Joyvio announced a merger and UK meat group Dunbia confirmed it was mulling options for the business. Belgium's Lotus Bakeries bought UK snacks group Urban Fresh Foods, its second deal in the country in four months and, looking to next year, we analysed the prospects for the BRIC markets in 2016. Here is the week in quotes.
Belgium's Lotus Bakeries this week struck its second piece acquisition in the UK in four months, with a deal to buy Bear snacks owner Urban Fresh Foods. Our M&A pages also included news Fonterra is selling its Australian yoghurt business to Lactalis's Parmalat and Ornua is offloading US distribution asset DPI. Elsewhere, the Russian central bank said domestic producers had, in most categories, failed to meet the shortfall in production from Moscow's import restrictions on the west.
Fonterra is to offload its yoghurt and dairy desserts business in Australia to Parmalat, the Italy-based group owned by France's Lactalis.
A distribution centre serving a number of international food and beverage companies – including Nestle, PepsiCo, Coca Cola and Cargil - and owned by local food giant Empresas Polar has been seized by the Venezuelan authorities.
Parmalat has posted a fall in first-half profits, despite higher sales, as a result of inflation pressures in Venezuela but the Lactalis-controlled dairy group reported underlying growth.
Parmalat has reported a fall in net income for the full year on the back of "highly unfavourable" exchange rates.
Peru's Grupo Gloria has confirmed a decision to shut down its dairy plant in Nueva Helvecia, Uruguay, where it manufactured Parmalat's products under the brand Ercolat.
Italian dairy firm Parmalat is to cease operations at its Marieville plant in Canada, a move that will affect 92 jobs.
Tesco is to be the first UK retailer investigated for alleged breaches of the country's groceries code in the wake of its mis-statement of profits, it was announced this week. Elsewhere, a staff error led to Fonterra losing its licence to ship cheese to the US and Mars revealed it will close a chewing gum plant in Canada.
Parmalat has struck a deal to buy a series of cheese assets in Mexico, the Lactalis-owned dairy group's latest move in Latin America.
Tesco this week claimed it wanted to "regenerate" its relationship with suppliers, with a strategy that looks set to cut the number of SKUs on sale in stores. Meanwhile, speculation emerged Brazilian private-equity firm and Heinz co-owner 3G Capital is looking at further acquisitions in the food industry.
Parmalat has moved to buy the business assets of regional Italian dairy co-operative Consorzio Cooperativo Latterie Friulane.
Parmalat has signed a deal to buy Australian dairy firm Longwarry Food Park.
Parmalat, the Italian dairy group controlled by Lactalis, has raised its forecasts for annual underlying sales and EBITDA.
Danone this week said Franck Riboud will step down as CEO after 18 years leading the French food giant. Across the Channel, the UK government announced plans for a food crime unit to tackle fraud. In emerging markets, Lactalis struck a deal to buy dairy assets from Brazil's BRF, while Egyptian snack group Bisco Misr said Kellogg had expressed an interest in buying the business.
The legal wrangle between Parmalat and Citibank continues to make its way through the Italian courts following a decision that an earlier US judgement requiring the dairy group to pay US$431m in damages could take effect in Italy.
Lactalis-controlled Italian dairy group Parmalat looks set to acquire 11 dairy plants in Brazil from local food processor BRF.
The French giant - the world's number two dairy group by sales - has struck another deal in a promising emerging market for dairy.
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.
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