French dairy group Lactalis has upped its stake in Croatian firm Kim Dairy.
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Lactalis’s Croatian subsidiary Dukat confirmed the deal to just-food today (22 September).
A spokesperson for Dukat, which had held a 66.96% stake in Kim Dairy, said the company took the opportunity to increase its holding when the Croatian Privatisation Fund (HFP) put its 24.5% stake up for sale in August.
According to local reports, Dukat raised its ownership to 91.4% at a cost of around EUR3m (US$4.4m).
The company declined to confirm this figure but did emphasise its intention to invest in growing Kim’s sales in the coming years.
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By GlobalDataKim produces UHT long-life sterile milk, fresh milk and cheese, spreads, yoghurt and deserts for the Croatian market.
