Grupo Lala, the Mexican dairy group, has outlined plans for an IPO for funds to pay down debt, expand distribution and make possible acquisitions.

Lala has filed a prospectus on the Mexican stock exchange, although there is, as yet, no indication of how much the family-owned company is looking to raise from the share offer. Bloomberg has reported Lala could be after at least US$700m.

Lala has 17 plants and 161 distribution centres across Mexico and Central America. Its major brands in Mexico are the namesake Lala brand and Nutrileche.

The company accounts for 53% of Mexican retail milk sales and 52% of the cream category. It also enjoys a 31% of retail pre-packaged cheese sales and 22% of the yoghurt market in Mexico. Lala also acccounts for 43% of dessert sales.