FRANCE: Annual sales up at dairy group Bongrain
M&A helped boost Bongrain sales, the company said
French dairy processor Bongrain has reported a rise in full-year revenue, helped by recent acquisitions and higher cheese sales in western Europe.
Bongrain booked a 7.9% increase in turnover to EUR4.41bn (US$6.05bn) for 2013. The company said acquisitions including its purchase of cheese maker Berthaut last April and its venture with local co-op Terra Lacta in August contributed 2.9 percentage points of the growth.
The company said it had seen growth in sales of cheese products in the fourth quarter, particularly in western Europe.
However, it noted in some markets, including France, the rise in sales was not enough to offset the "strong increase" it had seen in milk prices in the second half.
Bongrain's full accounts will be published next month.
Swiss dairy group Emmi has bought out French milk processor Bongrain from Emmi Fondue (EFON), the joint venture operation in which Bongrain held a minority stake....
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