French dairy group Lactalis is reportedly finalising a deal to acquire Spanish dairy firms Lauki and El-Prado Cervera from French cooperative 3A.

The purchase price is believed to be around €90m (US$110.3m), comprising €50m in debt and €40m cash, AFX News reported, citing local media.

If the deal were to go ahead, it would create the second-largest dairy group in Spain, with annual sales of around €564m.

US dairy firm Dean Foods had reportedly been interested in purchasing 3A’s dairy operations in Spain.