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April 15, 2008

BRAZIL: Dairy firm LAEP buys regional rival

Brazilian dairy group LAEP Investments has acquired local co-op Agro Pecuária Vale do Rio Doce.

Brazilian dairy group LAEP Investments has acquired local co-op Agro Pecuária Vale do Rio Doce.

The co-op, located in the City of Governador Valadare, was sold for R$38.2m (US$22.6m).

The acquisition was made through LAEP’s subsidiary Só-Nata Indústria e Comércio de Produtos Alimentícios S/A.

The estimated annual revenue of Cooperativa Agro Pecuária Vale do Rio Doce in 2007 was R$166m.

This acquisition strengthens LAEP’s position in the markets of Minas Gerais, Rio de Janeiro and Espírito Santo, the company said.

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