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.