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October 22, 2014

Bongrain posts sales jump on M&A and base business

French dairy group Bongrain has reported a 13% rise in nine-month sales on the back of recent acquisitions and growth from its underlying operations.

By Dean Best

French dairy group Bongrain has reported a 13% rise in nine-month sales on the back of recent acquisitions and growth from its underlying operations.

The company booked sales of EUR3.36bn (US$4.26bn) for the nine months to the end of September, compared to EUR2.97bn a year earlier.

Bongrain pointed to recent deals, including the purchases of goat’s milk products supplier Terra Lacta and infant milks manufacturer Sodilac in France and of family-owned dairy firm Sobbeke in Germany. It also cited the contribution from the integration of Romanian business Delaco, which had previously been reported under the equity method.

However, its results also included organic growth. Bongrain reported a 6.2% increase in cheese sales on an organic basis. It said its brands had withstood “mixed” European markets hit by the economic crisis.

Sales from dairy products other than cheese increased 8% on an organic basis.

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