The French dairy group Lactalis has finalised an agreement with the UK-based private equity company BC Partners to acquire Italian food producer Galbani.
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BC Partners had acquired the Milan-based company for a total consideration of EUR1.02bn (US$1.23bn), including a substantial amount of debt, through a leveraged buyout in 2002.
Galbani has an annual turnover EUR1.3bn, producing the Santa Lucia, Galbanino and Vallelata cheese brands, as well as salami.
