Parmalat has confirmed it is in talks to acquire Brazil’s largest private dairy company dairy Lacteos do Brasil (LBR).
“Parmalat Spa confirms that an exclusive negotiation is underway for a limited period with Lacteos do Brasil (LBR) in order to explore terms and conditions of a potential acquisition agreement,” the Italian dairy giant said in a statement.
Go deeper with GlobalData
LBR manufactures a variety of dairy products, including some Parmalat brand products under license. The firm has the capacity to process more than 2bn litres of milk a year and employs 5,800 people.
However, LBR has struggled in recent years and the group initiated a reorganisation plan in February, including filing for bankruptcy. At the time, LBC cited structural issues in the Brazilian dairy sector.
The Brazilian dairy is majority-owned by private equity firms Laep Investment and GP Investments. Laep previously announced the sale of US$10m in shares to offset losses on its investments. Neither group was available for comment at time of press.
See Also:
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
