Parmalat Group Expands in the US
Parmalat Group, the global milk, dairy products and fruit beverages producer, has acquired two companies operating in the dairy sector in the United States of America. The deal provides Parmalat Group with an important business active in the ethnic specialties segment in the US, increasing its current portfolio of gourmet cheeses and entry to the yogurt market. The enterprise value of the acquired business is about $130 million.
The acquisition includes a production facility in Turlock, California and two companies with approximately 140 employees. The brand portfolio includes, among the main trademarks, the “Karoun”, “Gopi” and “Blue Isle” brands. In 2016, the two companies had net revenue of about $55 million.
Parmalat Group, which is listed on the Italian Stock Exchange, has been controlled by the Lactalis Group of France since 2011.
